Investing.com - German factory orders fell more-than-expected in November, underlining worries over the impact of the euro zone’s debt crisis on the region’s largest economy, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 1.8% in November, compared to expectations for a 1.4% decline.
October’s figure was revised to a 3.8% increase from a previously reported gain of 3.9%.
Year-over-year, German factory orders dropped at an annualized rate of 1% in November, compared to expectations for a 0.4% decline, after falling at a rate of 2.5% in October.
Following the release of the data, the euro turned lower against the U.S. dollar, with EUR/USD easing down 0.04% to trade at 1.3110.
Meanwhile, European stock markets remained mildly higher. The EURO STOXX 50 added 0.25%, France's CAC 40 rose 0.45%, London’s FTSE 100 eased up 0.15%, while Germany's DAX tacked on 0.1%.
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 1.8% in November, compared to expectations for a 1.4% decline.
October’s figure was revised to a 3.8% increase from a previously reported gain of 3.9%.
Year-over-year, German factory orders dropped at an annualized rate of 1% in November, compared to expectations for a 0.4% decline, after falling at a rate of 2.5% in October.
Following the release of the data, the euro turned lower against the U.S. dollar, with EUR/USD easing down 0.04% to trade at 1.3110.
Meanwhile, European stock markets remained mildly higher. The EURO STOXX 50 added 0.25%, France's CAC 40 rose 0.45%, London’s FTSE 100 eased up 0.15%, while Germany's DAX tacked on 0.1%.