The German Factory Orders report indicated a significantly larger-than-expected dip in March, indicating that the rebound in the manufacturing sector is stalling.
Contracts for ‘Made in Germany’ items fell -10.7% month on month, compared to -2.2% projected and 4.5% previously, according to the latest statistics released by the Federal Statistics Office on Friday.
On an annualized basis, Germany’s Industrial Orders fell by -11.0% in the reporting month, compared to -8.3% projected and a -6.0% drop in February.
German factory orders reaction on Market
The common currency has resisted the negative German industrial statistics. At the time of writing, the EURUSD is trading at 1.1036, up 0.23% for the day.
