German Factory Orders Unexpectedly Gain in Sign of Resilience
German Factory Orders Unexpectedly Gain in Sign of Resilience
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German factory orders unexpectedly rose in April in a small sign of resilience in Europe’s largest economy amid global tensions.
Orders were up 0.3% on the month -- economists expected no change -- and down 5.3% from a year ago. The nations’ manufacturing sector has been crumbling as the trade war between China and the U.S. heats up, adding to German woes after domestic problems in its auto sector.
European Central Bank President Mario Draghi faces reporters on Thursday after holding a policy meeting to give his latest thoughts on how serious the slowdown in the euro zone is becoming. Authorities have already decided to offer a new-round of long-term loans to banks to boost growth, and they may announce additional measures.
Key Insights
- Domestic orders fell 0.8% in month as exports climbed 1.1%
- Investment goods orders gained 0.9%, consumer goods rose 0.1%
To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
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