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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam