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German Factory Orders Grow More Than Expected In May
(RTTNews) - Tuesday, the Federal Ministry of Economics and Technology said German factory orders recorded a monthly growth of 4.4% in May, much larger than the expected increase of 0.5% and April’s 0.1% rise.
Year-on-year, orders plummeted 29.4% in May, slower than the 37.1% decline seen in April. Domestic orders were down 25%, while foreign orders plunged 33%.
In the two month comparison, orders increased 4.2%. Domestic and foreign demand climbed 3.9% and 4.5%, respectively.
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Posted in Categories: Economy, Eurozone, Releases.
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