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 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 SKY News. 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