Investing.com - German factory orders fell unexpectedly in January, underlining concerns over the impact of the euro zone’s debt crisis on the region’s largest economy, official data showed on Thursday.
In a report, Deutsche Bundesbank said factory orders tumbled by a seasonally adjusted 1.9% in January, confounding expectations for a 0.5% increase.
Factory orders rose by 1.1% in December, whose figure was revised up from a previously reported gain of 0.8%.
Year-over-year, German factory orders dropped at an annualized rate of 2.5% in January, compared to expectations for a 1.6% decline, after falling at a rate of 1.9% in December.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.35% to trade at 1.3013.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.5%, France's CAC 40 gained 0.5%, London’s FTSE 100 eased up 0.4%, while Germany's DAX tacked on 0.3%.
In a report, Deutsche Bundesbank said factory orders tumbled by a seasonally adjusted 1.9% in January, confounding expectations for a 0.5% increase.
Factory orders rose by 1.1% in December, whose figure was revised up from a previously reported gain of 0.8%.
Year-over-year, German factory orders dropped at an annualized rate of 2.5% in January, compared to expectations for a 1.6% decline, after falling at a rate of 1.9% in December.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.35% to trade at 1.3013.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.5%, France's CAC 40 gained 0.5%, London’s FTSE 100 eased up 0.4%, while Germany's DAX tacked on 0.3%.