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Germany’s factory orders decline less than expected in May

by ChemOrbis Editorial Team -
  • 06/07/2015 (11:30)
According to data released by Germany’s Official Statistical Office Destatis, the country’s factory orders fell less than expected in May to post a decrease of 0.2% on a seasonally and working day adjusted basis following an increase of 2.2% in the previous month. Economists’ initial estimates, meanwhile, called for a decrease of 0.4% on the month.

The data revealed that domestic orders fell 0.6% in May while foreign orders rose by 0.2%. Orders for the capital goods sector declined 0.8% on the month in May while orders for consumer goods also went down by 1.2%. Meanwhile, the intermediate goods sector posted an increase of 1.3%.
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