German Factory Orders Rebounded in May

German factory orders jumped 10.4% in May MoM, indicating that the contraction in Europe’s largest economy is slowing down.

Data released by the Federal Statistics Office on Monday showed that contracts for goods “made in Germany” jumped 10.4% MoM compared to +15.0% expected and -25.8 previous.

On an annualized basis, German factory orders fell 29.3% in May, compared to a previous -36.6 and -28.0% expected.