German Factory Orders Rise as Economy Gains Momentum

German factory orders expanded for a second month as Europe’s largest economy picked up speed.

Orders, adjusted for seasonal swings and inflation, rose 1 percent in March, after expanding an upwardly revised 3.5 percent in February, data from the Economy Ministry in Berlin showed on Monday. The typically volatile reading compares with a median estimate for a 0.7 percent gain in a Bloomberg survey. Orders were up 2.4 percent from a year earlier, when adjusted for working days.

The Bundesbank said Germany’s economy probably gathered momentum in the first quarter on the back of strong consumer spending and a brightening outlook for manufacturers. Business confidence is at the highest level in almost six years, and data on Friday is forecast to show that growth accelerated in the three months through March.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.