Germany Industrial Orders Dropped for the third successive month in March

The German Industrial orders contracted unexpectedly in March. This has been the third consecutive drop based on the report released on Monday, reflecting a shift to a slower pace in the upcoming months.

Contracts on local German-made goods slid down by 0.9 percent after a downward revision of 0.2 percent in the month earlier, according to the data from the Federal Statistics Office.

The reading has shifted the poll of Reuters with the forecast of 0.5 percent increase.

The economy ministry said that the sector has somehow lost ground in the first quarter following a good performance in the second six months in 2017.

However, despite the drop in the first quarter of the year, the overall industrial trend has remained to be directed upward, as described by the ministry.