German industrial orders slide

FRANKFURT, Aug 04 (AFP): German industrial orders dipped in June, official figures published Thursday showed, as Europe's largest economy faced the threat of a recession in the months to come.
New orders-which usually provide a foretaste of industrial output-fell by 0.4 per cent in June from the previous month, the federal statistics agency Destatis calculated.
The previous month's reading was revised to show a drop of 0.2 per cent, having previously shown a small improvement.
The switch meant Germany had now seen industrial orders drop for five consecutive months.
The overall drop was "mostly due" to a 4.3 per cent decline in the volume of orders from outside the eurozone, Destatis said.
Meanwhile, orders from within the eurozone and Germany rose by 3.4 per cent and 1.1 per cent respectively.