India, July 4 -- Germany's factory orders declined more than expected in May on falling demand from both the domestic market and other euro area economies, official data revealed on Friday. Factory orders decreased 1.4 percent from a month ago, Destatis reported. Orders were expected to drop 0.2 percent after an upwardly revised 1.6 percent rise in April. Orders declined for the first time in four months.
Excluding large-scale orders, manufacturing orders were 3.1 percent lower than in the previous month.
Commerzbank Senior Economist Ralph Solveen said the decline in order intake does not necessarily contradict expectations that the German economy will pick up in the course of the year.
However, together with weak industrial sales figure...