German factory orders dipped again as 2nd quarter started

BERLIN (AP) — Official figures show that German factory orders, an important indicator for Europe’s biggest economy, dipped in April after a big drop in March. Tuesday’s data pointed to a disappointing start to the second quarter. The Economy Ministry said orders were down 0.4% compared with the previous month. That followed a painful 10.9% drop in March. Economists had expected an increase in April, but the ministry said the figure was influenced in part by fluctuations in bulk orders. In late May, Germany’s national statistics office said that the economy shrank in the first three months of this year, marking the second consecutive quarter of contraction that is one definition of recession.