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German factory orders recover in May

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Staff Writer | July 6, 2017
German factory orders
Germany   Factory orders grew 1% month-on-month in May

Germany's factory orders recovered on foreign demand in May, data from Destatis showed Thursday.

Factory orders grew 1% month-on-month in May, reversing a revised 2.2% fall in the previous month. However, the pace of growth was weaker than the expected 1.9%.

Excluding major orders, new orders declined 0.3% from the previous month.

Domestic orders fell 1.9% from April, while foreign orders grew 3.1%. Orders from the euro area climbed 1.7% and orders from other countries advanced 4%.

Data showed that manufacturing turnover slid 0.1% on a monthly basis, following a 1.3% rise in April.

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