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German Factory Orders up by 1.0%

Thursday, Oct 06 2016

Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in August 2016 a seasonally and working-day adjusted 1.0% on July 2016. For July 2016, revision of the preliminary outcome resulted in an increase of 0.3% compared with June 2016 (primary +0.2%). Price-adjusted new orders without major orders in manufacturing had increased in August 2016 a seasonally and working-day adjusted 1.6% on July 2016.

In August 2016, domestic orders increased by 2.6%, while foreign orders decreased by 0.2% on the previous month. New orders from the euro area were up 4.1% on the previous month, while new orders from other countries decreased by 2.8% compared to July 2016. In August 2016 the manufacturers of intermediate goods saw new rise 1.7% compared with July 2016. The manufacturers of capital goods showed increases of 0.3% on the previous month. For consumer goods, an increase in new orders of 2.9% was recorded.

 

Euro is currently being traded around 1.12 handle. Pair is likely to find support around 1.1150 area and resistance above 1.1250 level.

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