German Factory Orders unexpectedly rise 0.1% MoM in May

The German Factory Orders rebounded in May, suggesting that the manufacturing sector downturn in Europe’s economic powerhouse is flattening. Contracts for goods ‘Made in Germany’ jumped by 0.1% on the month vs. -0.6% expected and -2.7% last, the latest data published by the Federal Statistics Office showed on Wednesday.

On an annualized basis, Germany’s Industrial Orders arrived at -3.1% in the reported month vs. -6.2% previous.