Investing.com - German factory orders rose unexpectedly in March, 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 jumped by a seasonally adjusted 2.2% in March, confounding expectations for a 0.5% decline.
Factory orders rose by 2.2% in February, whose figure was revised down from a previously reported gain of 2.3%.
Year-over-year, German factory orders dropped at an annualized rate of 0.4% in March, compared to expectations for a 2.9% decline, after falling at a rate of 0.2% in February.
Following the release of the data, the euro spiked against the U.S. dollar, with EUR/USD adding 0.13% to trade at 1.3094.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.5%, France's CAC 40 gained 0.3%, London’s FTSE 100 eased up 0.3%, while Germany's DAX tacked on 0.7%.
In a report, Deutsche Bundesbank said factory orders jumped by a seasonally adjusted 2.2% in March, confounding expectations for a 0.5% decline.
Factory orders rose by 2.2% in February, whose figure was revised down from a previously reported gain of 2.3%.
Year-over-year, German factory orders dropped at an annualized rate of 0.4% in March, compared to expectations for a 2.9% decline, after falling at a rate of 0.2% in February.
Following the release of the data, the euro spiked against the U.S. dollar, with EUR/USD adding 0.13% to trade at 1.3094.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.5%, France's CAC 40 gained 0.3%, London’s FTSE 100 eased up 0.3%, while Germany's DAX tacked on 0.7%.