The German Factory Orders statistics showed a significant gain in June, indicating that the manufacturing sector’s recovery is continuing for the second month in a row.
Contracts for ‘Made in Germany’ items increased 7.0% month on month, compared to -2.0% projected and 6.2% previously, according to the latest statistics issued by the Federal Statistics Office on Friday.
German Industrial Orders climbed by 3.0% year on year in the reported month, compared to a 4.4% fall in May.
After German Factory orders Currency ramifications
The robust German industrial data has failed to provide any good impetus for the common currency. At the time of writing, the EURUSD is trading at 1.0955, up 0.10% for the day.
