German Factory Orders rise 0.6% MoM in April vs. -1% expected
Source Fxstreet
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%.
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