German Factory Orders drop 0.4% MoM in June vs. -0.8% expected

  • German Factory Orders fell 0.4% MoM in June vs. -0.8% expected.
  • German Factory output arrived at -9.0% YoY in June vs. -6.0% expected.
  • EUR/USD keeps its range below 1.0200 on the mixed German data.

The German Factory Orders dropped in June, suggesting that the manufacturing sector activity in Europe’s economic powerhouse is dwindling.

Contracts for goods ‘Made in Germany’ fell by 0.4% on the month vs. -0.8% expected and -0.2% last, the latest data published by the Federal Statistics Office showed on Thursday.

On an annualized basis, Germany’s Industrial Orders arrived at -9.0% in the reported month vs. -6.0% expected and -3.2% previous.

FX implications

The shared currency remains unfazed by the mixed German factory data.  At the time of writing, EUR/USD is almost unchanged on the day, trading at 1.0165.

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