Investing.com - German factory orders fell more-than-expected in April, 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 fell by a seasonally adjusted 2.3% in April, compared to expectations for a decline of 1%.
Factory orders rose by 2.3% in March, whose figure was revised up from a previously reported gain of 2.2%.
Year-over-year, German factory orders dropped at an annualized rate of 0.4% in April, compared to expectations for a 0.9% gain, after falling at a rate of 0.4% in March.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.3111.
Meanwhile, European stock markets remained modestly higher. The EURO STOXX 50 rose 0.3%, France's CAC 40 gained 0.3%, London’s FTSE 100 eased up 0.1%, while Germany's DAX tacked on 0.1%.
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 2.3% in April, compared to expectations for a decline of 1%.
Factory orders rose by 2.3% in March, whose figure was revised up from a previously reported gain of 2.2%.
Year-over-year, German factory orders dropped at an annualized rate of 0.4% in April, compared to expectations for a 0.9% gain, after falling at a rate of 0.4% in March.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.3111.
Meanwhile, European stock markets remained modestly higher. The EURO STOXX 50 rose 0.3%, France's CAC 40 gained 0.3%, London’s FTSE 100 eased up 0.1%, while Germany's DAX tacked on 0.1%.