Investing.com - German factory orders rose more-than-expected in March, while the previous month’s figure was revised higher, official data showed on Monday.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.2% in March, easily surpassing expectations for a 0.5% increase.
February’s figure was revised to a 0.6% gain from a previously reported increase of 0.3%.
Year-over-year, German factory orders dropped at an annualized rate of 1.3% in March, better than expectations for a 2.8% decline after falling at a revised rate of 6.0% in February.
Following the release of the data, the euro trimmed losses against the U.S. dollar, with EUR/USD shedding 0.41% to trade at 1.3031.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.5%, France's CAC 40 dropped 0.3%, Germany's DAX shed 0.95%, while London’s FTSE 100 remained closed for a public holiday.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.2% in March, easily surpassing expectations for a 0.5% increase.
February’s figure was revised to a 0.6% gain from a previously reported increase of 0.3%.
Year-over-year, German factory orders dropped at an annualized rate of 1.3% in March, better than expectations for a 2.8% decline after falling at a revised rate of 6.0% in February.
Following the release of the data, the euro trimmed losses against the U.S. dollar, with EUR/USD shedding 0.41% to trade at 1.3031.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 fell 0.5%, France's CAC 40 dropped 0.3%, Germany's DAX shed 0.95%, while London’s FTSE 100 remained closed for a public holiday.