Reported about 1 year ago
German factory orders unexpectedly dropped by 1.6% in May, falling short of the expected 0.5% increase, marking the fifth consecutive month of decline and reflecting the ongoing struggles of German manufacturers amidst a sluggish recovery in Europe's largest economy. The decline was partially offset by above-average bulk orders, but there was a notable decrease in demand outside the euro zone. The report signals subdued momentum in the industry, reflecting the need for global trade recovery and increased demand for industrial products for stabilization. Despite some recent negative indicators, the Bundesbank foresees a slight GDP growth in the second quarter, with expectations for a stronger second half of the year driven by rising wages, moderated inflation, and potential ECB interest rate cuts.
Source: YAHOO