Latest data released by Destatis - 7 May 2019
- Prior -4.2%; revised to -4.0%
- Factory orders WDA -6.0% vs -5.4% y/y expected
- Prior -8.4%; revised to -8.1%
Slight delay in the release by the source. Industrial orders improved slightly on the month but the headline was weaker-than-expected. Overall, factory activity remains weak when compared to the same period a year ago and that isn't a good sign whatsoever.
Nonetheless, the reading here pertains to Q1 economic data and we all know that German manufacturing/factory activity has been weak in this period. Let's see if we will get any further improvements in Q2.
