7/5, 8:00 AM (Source: TeleTrader)
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German factory orders fall by 8.6% YoY in May

German factory orders fell by 8.6% in May compared to the same month a year ago, Germany's Federal Statistical Office (Destatis) reported on Friday. New orders in manufacturing declined by 2.2% from April.

Domestic orders in May were up by 0.7%, while foreign orders declined 4.3% compared to April. New orders from the euro area were 1.7% lower and new orders from other countries dropped by 5.7% month on month.

In May, new orders of capital goods fell 2.8% month on month, while consumer goods' new orders decreased by 0.7%. Manufacturers of intermediate goods saw new orders decline by 1.5% on a monthly basis.

Breaking the News / VP