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German Factory Orders increased by 0.2%

Tuesday, Sep 06 2016

Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in July 2016 a seasonally and working-day adjusted 0.2% on June 2016. For June 2016, revision of the preliminary outcome resulted in a decrease of 0.3% compared with May 2016 (primary –0.4%). Price-adjusted new orders without major orders in manufacturing had decreased in July 2016 a seasonally and working-day adjusted 1.3% on June 2016.

In July 2016, domestic orders decreased by 3.0%, while foreign orders increased by 2.5% on the previous month. New orders from the euro area were up 5.9% on the previous month and new orders from other countries increased by 0.6% compared to June 2016. In July 2016 the manufacturers of intermediate goods saw new orders unchanged in real terms adjusted for seasonally fluctuations and working-day variations compared with June 2016. The manufacturers of capital goods showed increases of 0.8% on the previous month. For consumer goods, a decrease in new orders of 4.3% was recorded.

 

Euro is currently being traded around 1.1150 area. Pair is likely to find support around 1.11 handle and resistance above 1.12 handle.

More in this category: « RBA left interest rates unchanged US Non-Manufacturing PMI fell to the six-year low »

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