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German Factory Orders unchanged in May

Wednesday, Jul 06 2016
As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, the manufacturing sector saw new orders unchanged in real terms adjusted for seasonally fluctuations and working-day variations in May 2016 compared with April 2016. For April 2016, revision of the preliminary outcome resulted in a decrease of 1.9% compared with March 2016 (primary –2.0%). Price-adjusted new orders without major orders in manufacturing had increased in May 2016 a seasonally and working-day adjusted 0.5% on April 2016.
In May 2016, domestic orders decreased by 1.9%, while foreign orders increased by 1.4% on the previous month. New orders from the euro area were up 4.0% on the previous month, while new orders from other countries decreased by 0.3% compared to April 2016. In May 2016 the manufacturers of intermediate goods fell 2.9%, while the manufacturers of capital goods showed an increase of 1.9% on the previous month. For consumer goods, a decrease in new orders of 0.4% was recorded. 
 
Euro is currently being traded few points below 1.1090 level. Pair is likely to find support around 1.1050 handle and resistance above 1.1150 level.
 
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