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German Factory Orders decreased by 1.8%

Tuesday, Oct 06 2015
Based on provisional data, the Federal Statistical Office reports that price-adjusted new orders in manufacturing in August 2015 decreased a seasonally and working-day adjusted 1.8% on July 2015. Analysts were forecasting 0.5% increase. In July 2015, the decrease on the previous month showed a corrected –2.2% (primary –1.4%). In August 2015, domestic orders decreased 2.6% and foreign orders 1.2% on the previous month. 
 
As regards the direction of trade in foreign transactions, new orders from the euro area were up 2.5% on the previous month, new orders from other countries decreased 3.7%.In August 2015 the manufacturers of intermediate goods recorded decreases in new orders of 0.4% and the manufacturers of capital goods of 2.8% on the previous month. For consumer goods, a decrease in new orders of 1.5% was recorded.
 
Euro is currently being traded few points above 1.1180 level. Pair is likely to find support around 1.1130 area and resistance above 1.1230 level. Later today, in the US session, Trade Balance figures are scheduled for a release.
More in this category: « RBA left interest rates unchanged UK House Prices down by 0.9% »

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