German Factory Orders rise 1.3% MoM in Sept vs. +0.1% expected, EUR/USD little changed
|- German Factory Orders rise 1.3% MoM in September.
- German Factory Orders fall 5.4% YoY in September.
The German Factory Orders data showed some improvement in September, suggesting that the manufacturing recession in Europe’s largest economy may be gradually unwinding.
Contracts for goods ‘Made in Germany’ arrived at +1.3% on the month vs. +0.1% expected and -0.6% last, the latest data published by the Federal Statistics Office showed on Wednesday.
On an annualized basis, Germany’s Industrial Orders fell 5.4% vs. -6.2% expectations and -6.7% last.
The shared currency showed little reaction to the upbeat German Factory Orders data, leaving the EUR/USD pair mostly unchanged near the 1.1075 region.
About German Factory Orders
The Factory orders released by the Deutsche Bundesbank is an indicator that includes shipments, inventories, and new and unfilled orders. An increase in the factory order total may indicate an expansion in the German economy and could be an inflationary factor. It is worth noting that the German Factory barely influences, either positively or negatively, the total Eurozone GDP. A high reading is positive (or bullish) for the EUR, while a low reading is negative.
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