BERLIN, Oct. 8 (Xinhua) -- Germany's electrical industry saw new orders in August fall 12.4 percent year-on-year, the German Electrical and Electronic Manufacturers' Association (ZVEI) announced on Thursday.
"We are heading for a slower, U-shaped recovery instead of the fast, V-shaped recovery we had hoped for," said ZVEI economic expert Peter Giehl. While domestic orders fell by 5.6 percent, foreign orders decreased by 17 percent year-on-year.
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