Investing.com - German factory orders fell unexpectedly in August, declining for the second consecutive month, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders dropped by a seasonally adjusted 0.3% in August, defying expectations for a gain of 1.2%.
Factory orders fell by 1.9% in July, whose figure was revised up from a previously reported decline of 2.7%.
Year-over-year, German factory orders climbed at an annualized rate of 3.1% in August, missing expectations for a 4% gain, after rising at a rate of 2.3% in July.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.06% to trade at 1.3572.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.3%, France's CAC 40 slumped 0.5%, London’s FTSE 100 declined 0.75%, while Germany's DAX shed 0.25%.
In a report, Deutsche Bundesbank said factory orders dropped by a seasonally adjusted 0.3% in August, defying expectations for a gain of 1.2%.
Factory orders fell by 1.9% in July, whose figure was revised up from a previously reported decline of 2.7%.
Year-over-year, German factory orders climbed at an annualized rate of 3.1% in August, missing expectations for a 4% gain, after rising at a rate of 2.3% in July.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.06% to trade at 1.3572.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.3%, France's CAC 40 slumped 0.5%, London’s FTSE 100 declined 0.75%, while Germany's DAX shed 0.25%.