German industrial orders fell by 1% in November, demonstrating that the US-China trade war, Brexit uncertainty and slower growth in emerging markets are all having a detrimental effect on the country's economy. The drop was significantly more than the predicted 0.4% fall and, while domestic orders rose 2.4%, the 3.2% decrease in international orders hurt Europe's biggest economy. Waning demand from the eurozone, which was down 11.6%, has forced the German government to look to domestic consumption to spur the economy by bringing in tax cuts for middle and high-income residents, as well as raising child allowances.
German industrial orders fell by 1% in November 2018, demonstrating that the US-China trade war, Brexit uncertainty and slower growth in emerging markets are all having a detrimental effect on the country's economy. The drop was significantly more than the predicted 0.4% fall and, while domestic orders rose 2.4%, the 3.2% decrease in international orders hurt Europe's biggest economy. Waning demand from the eurozone, which was down 11.6%, has forced the German government to look to domestic consumption to spur the economy by bringing in tax cuts for middle and high-income residents, as well as raising child allowances.