German Factory Orders Rise 1% in May

German factory orders increased in May, albeit less than forecast, as Europe’s largest economy is seen expanding at a robust pace.

Orders, adjusted for seasonal swings and inflation, rose 1 percent after falling a revised 2.2 percent in April, data from the Economy Ministry in Berlin showed on Thursday. The typically volatile reading compares with a median estimate for a 1.9 percent increase in a Bloomberg survey. Orders were up 3.7 percent from a year earlier, when adjusted for working days.

Germany has driven economic growth in the 19-nation euro region and the Bundesbank predicts that “lively” manufacturing demand from within the country and abroad will contribute to strong growth. The Frankfurt-based central bank has upgraded its outlook through 2019, also pointing to declining unemployment bolstering spending.

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.