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The German factory orders decelerated in the month of May, re-igniting fears over a deeper economic slowdown in Europe’s largest economy.

Contracts for goods ‘Made in Germany’ arrived at -2.2% on the month vs. -0.1%  forecast  and +0.3% last, the latest data published by the Federal Statistics Office  showed on Friday.

On an annualized basis, Germany’s industrial orders fell 8.6% vs. -5.7% expectations and -5.3% last.

The shared currency came under fresh selling pressure on disappointing German factory orders, sending the  EUR/USD  pair lower towards 1.1270 region.