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Germany’s factory orders stable in May

by ChemOrbis Editorial Team -
  • 06/07/2016 (12:02)
According to data released by Germany’s Economy Ministry, the country’s factory orders were unchanged on a month over month basis amidst weak domestic demand following a revised drop of 1.9% in April. Analysts were expecting to see a 1% increase in factory orders for May.

On a yearly basis, orders fell by 2% in May, missing analysts’ initial expectations of a 0.9% gain. Orders had recorded a 0.4% decline in the previous month.

The data showed that domestic orders fell 1.9% due to slow demand in May while export orders climbed by 1.4% on the back of demand from the eurozone countries.
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