- German factory orders rose sharply 1.4% month-on-month in January.
- On an annual basis, German factory orders were up 2.5% in January.
- EUR / USD remains unflappable after mixed data from German factories.
The German factory orders increased more than expected in January, suggesting that the manufacturing sector in Europe’s economic powerhouse started 2021 on a positive footing.
Goods contracts ‘Made in Germany’ reached + 1.4% in January, compared to the 0.7% expected and -2.2% the previous monththe latest data released by the Federal Statistics Office on Friday showed.
On an annualized basis, Germany’s industrial orders increased 2.5% in the reported month, up from 6.1% previously and expectations of 6.4%.
About German Factory Orders
The factory requests published by the Deutsche Bundesbank is a measure of the total orders of durable and non-durable goods such as transport (sales), inventories and orders at the manufacturing level which can provide an insight into inflation and growth in the sector. manufacturer. A result higher than expected is bullish for the euro, while a result below the consensus is bearish.
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