Germany’s factory orders increase in May
The data showed that the country’s factory orders were up by 1% on a monthly basis in May after a revised decrease of 2.2% in April. However, this increase fell below the estimates of a rise of 1.9%.
The monthly increase in factory orders in May was mainly driven by an increase in foreign orders by 3.1% from a month earlier with orders from the euro area increasing by 1.7% and from other countries by 4.0%.
Domestic orders, however, fell by 1.9% in May, compared to April 2017.
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