The German factory orders accelerated slightly in the month of April, calming fears over dwindling economic growth in Europe’s largest economy.
Contracts for goods ‘Made in Germany’ arrived at +0.3% on the month vs. +1.1% forecast and +0.6% last, the latest data published by the Federal Statistics Office showed on Thursday.
On an annualized basis, Germany’s industrial orders fell 5.3% vs. -7.2% expectations and -6.0% last.
The shared currency remained unimpressed by the improvement in the German factory orders, keeping the EUR/USD pair better bid near 1.1235 region.
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