08 January 2009 18:09 [Source: ICIS news]
TORONTO (ICIS news)--German exports and new orders - two key economic performance measures - plunged in November, according to data released on Thursday.
November exports of €77.1bn ($104.8bn) were down 11.8% from November 2007 and dropped 10.6% sequentially from October 2008, ?xml:namespace>
Meanwhile, manufacturing orders fell again in November, dropping 6% sequentially from October, the country’s economics ministry said in a separate report.
The decline affect all industrial sectors and followed a 6.3% sequential decline in October, the ministry said.
In light of the sharp drop in new orders,
Economic forecasters expect Europe's largest economy to shrink by 2.2% this year.
($1 = €0.74)
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