Latest data released by Destatis - 8 January 2020

  • Prior -0.4%; revised to +0.2%
  • Factory orders WDA -6.5% vs -4.7% y/y expected
  • Prior -5.5%; revised to -5.6%

Once again, German industrial orders disappoint and at this point it isn't really a surprise I reckon. The only bright side of the report here is that there was an upward revision to the October figures but that is hardly comforting.

The annual look at industrial orders continue to show signs of concern and that will still allude to skepticism over a recovery in the manufacturing sector this year.