Germany July factory orders -2.7% vs -1.4% m/m expected
Latest data released by Destatis - 5 September 2019
- Prior +2.5%; revised to +2.7%
- Factory orders WDA -5.6% vs -4.2% y/y expected
- Prior -3.6%; revised to -3.5%
Slight delay in the release by the source. After a brief rebound in June, factory orders slumped again in July and that's not a good start to Q3 whatsoever as manufacturing/factory activity remains weak in the German economy.
This will continue to feed into fears of a recession in the country following the negative quarterly growth posted in Q2. EUR/USD is down to lows for the day at 1.1021 currently on the back of the report here.