German factory orders fell more than expected in August

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German factory orders fell more than expected in August, as carmakers struggled to meet the increase in post-pandemic demand since the start of the year due to a shortage of chips and other intermediate products, hampering the recovery of Europe’s largest economy.

Data from the Federal Statistics Office showed that factory orders fell 7.7% in August, exceeding expectations for a 2.1% decline.

The supply bottlenecks affected automakers in particular, as they saw orders fall 12% from the previous month.

The report indicates that the recovery of the German economy may witness obstacles in the coming months, because the rapid recovery from the closures caused by the epidemic around the world led to a shortage of inputs as well as delays in delivery.

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The article German factory orders fell more than expected in August was written in Al Borsa newspaper.