Analysts at TD Securities note that headline German factory orders plummeted 4.0% m/m in June, well below the 0.5% decline markets were looking for.
Key Quotes
“Details of the report, however, were less dire, with manufacturing sales volumes dropping 1.0% m/m after a 0.9% increase in May. Today’s figures suggest a 0.7% m/m decline for tomorrow’s June IP release.”
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