Negative numbers increase fears that Europe’s largest economy will slide in recession

German factory orders continued to decline in September, increasing fears that Europe’s largest economy might slide in recession due to rising energy costs.

Demand fell 4% in September month-over-month, a steeper drop than the median estimate of 0.5% in a Bloomberg poll.

The drop in orders also accelerated in September compared to August, when the drop was 2%.

The worse-than-expected decline was driven by a 7% drop in foreign orders, the German statistical office said, with orders from the euro zone in 8% drop, compared to a 6.3% drop from other countries.

Domestic demand grew only slightly.

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