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German industrial orders rise less than expected in May
July 6, 2017 / 6:07 AM / 2 months ago

German industrial orders rise less than expected in May

BERLIN, July 6 (Reuters) - German industrial orders rebounded less than expected in May, data showed on Thursday, but the Economy Ministry said it expected this sector of Europe’s largest economy to continue gathering momentum.

Factories registered a 1.0 percent increase in orders in May after contracts for ‘Made in Germany’ goods dropped by a downwardly revised 2.2 percent in April, data from the Economy Ministry showed.

The reading for May undershot the Reuters forecast for a 2.0 percent rise, with the Economy Ministry saying the proportion of bulk orders was below average for May.

A breakdown of the May data showed domestic demand tumbled by 1.9 percent while foreign orders climbed by 3.1 percent. (Reporting by Michelle Martin; Editing by Michael Nienaber)

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