Investing.com - German factory orders rose significantly more-than-expected in October, rebounding from the previous month’s sharp decline, official data showed on Thursday.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 3.9% in October, blowing past expectations for a 0.9% gain.
September’s figure was revised to a 2.4% drop from a previously reported decline of 3.3%.
Year-over-year, German factory orders dropped at an annualized rate of 2.4% in October, compared to expectations for a 5.6% decline, after falling at a rate of 3.9% in September.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD adding 0.06% to trade at 1.3076.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France's CAC 40 climbed 0.45%, Germany's DAX rallied 1%, while London’s FTSE 100 was up 0.2%
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 3.9% in October, blowing past expectations for a 0.9% gain.
September’s figure was revised to a 2.4% drop from a previously reported decline of 3.3%.
Year-over-year, German factory orders dropped at an annualized rate of 2.4% in October, compared to expectations for a 5.6% decline, after falling at a rate of 3.9% in September.
Following the release of the data, the euro was higher against the U.S. dollar, with EUR/USD adding 0.06% to trade at 1.3076.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.6%, France's CAC 40 climbed 0.45%, Germany's DAX rallied 1%, while London’s FTSE 100 was up 0.2%