German factory orders down, underlining recession fears

BERLIN (AP) — Official figures show that German factory orders were down 4% in September compared with the previous month, underlining expectations that Europe’s biggest economy is heading into recession. The Economy Ministry said Friday that the decline was led by a decline in foreign orders, which dropped 7%. Orders from inside Germany were up 0.5%. It added that a rise in demand that set in after the worst of the coronavirus pandemic appears to be over, and orders are now back to a pre-pandemic level. They were down 10.8% compared with a year earlier.