Germany’s Factory Orders unexpectedly rose in April, suggesting that the country’s manufacturing sector sustained its recovery, according to the official data published by the Federal Statistics Office on Thursday.
Over the month, contracts for goods ‘Made in Germany’ ticked up 0.6% in April after rebounding by a revised 3.4% in March. Data beat the estimates of -1%.
Germany’s Industrial Orders rose 4.8% year-over-year (YoY) in April, compared with the previous revised growth of 3.7%.
FX implications
The Euro (EUR) is little moved by the German data, with EUR/USD trading 0.07% lower on the day at 1.1410, as of writing.
