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German adjusted factory orders remain unchanged

German factory orders could not compensate in May the previous reduction in April due to low domestic demand. These data were released by Federal Ministry for Economic Affairs and Energy.

 

Seasonally adjusted German factory orders remained unchanged in May. At that time, large orders remained below average level. Experts expected a growth by 0.8%.

 

The revised data show a fall of factory orders by 1.9% in April, which is better by 0.1% than the previous reading.

 

Demand from foreign partners (non-EU) for German factory goods rose by 1.4% on a month-over-month basis. Demand from the EU partners rose by 4.0%. Domestic orders fell by 1.9%.

 

Factory orders rose by 3.7% versus 2015 but fell by 0.2% on adjustment to working days. Some economists say about stagnation and weak paces of manufacturing growth.