Germany: Dismal factory orders data - TDS

Analysts at TD Securities note that headline German factory orders plummeted 4.0% m/m in June, well below the 0.5% decline markets were looking for.

Key Quotes

“Details of the report, however, were less dire, with manufacturing sales volumes dropping 1.0% m/m after a 0.9% increase in May. Today's figures suggest a 0.7% m/m decline for tomorrow's June IP release.”