Investing.com - German factory orders rose significantly more-than-expected in June, easing concerns 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 rose by a seasonally adjusted 3.8% in June, blowing past expectations for a gain of 1%.
Factory orders fell by 0.5% in May, whose figure was revised up from a previously reported decline of 1.3%.
Year-over-year, German factory orders climbed at an annualized rate of 4.3% in June, compared to expectations for a 0.3% gain, after falling at a rate of 1.8% in May.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.22% to trade at 1.3287.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 rose 0.2%, France's CAC 40 inched up 0.1%, London’s FTSE 100 eased down 0.1%, while Germany's DAX tacked on 0.25%.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 3.8% in June, blowing past expectations for a gain of 1%.
Factory orders fell by 0.5% in May, whose figure was revised up from a previously reported decline of 1.3%.
Year-over-year, German factory orders climbed at an annualized rate of 4.3% in June, compared to expectations for a 0.3% gain, after falling at a rate of 1.8% in May.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.22% to trade at 1.3287.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 rose 0.2%, France's CAC 40 inched up 0.1%, London’s FTSE 100 eased down 0.1%, while Germany's DAX tacked on 0.25%.