Investing.com – German factory orders fell unexpectedly in July, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders declined unexpectedly by a seasonally adjusted 2.2% in July, after rising 3.6% in June, whose figure was revised up from 3.2%.
Economists had expected factory orders to rise 0.6% in July.
The data showed that year-on-year, factory orders declined to 17.7%, compared to 24.7% in June.
Economists had expected year-on-year factory orders to fall to 20.6% in July.
The data primarily reflected a drop of 3.7% in foreign orders, while domestic orders slipped by 0.3%.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD tumbling 1.04% to hit 1.2742.
In a report, Deutsche Bundesbank said factory orders declined unexpectedly by a seasonally adjusted 2.2% in July, after rising 3.6% in June, whose figure was revised up from 3.2%.
Economists had expected factory orders to rise 0.6% in July.
The data showed that year-on-year, factory orders declined to 17.7%, compared to 24.7% in June.
Economists had expected year-on-year factory orders to fall to 20.6% in July.
The data primarily reflected a drop of 3.7% in foreign orders, while domestic orders slipped by 0.3%.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD tumbling 1.04% to hit 1.2742.