Investing.com - German factory orders tumbled more-than-expected in September, adding to concerns over the euro zone’s largest economy, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 3.3% in September, compared to expectations for a 0.5% decline.
August’s figure was revised to a 0.8% drop from a previously reported decline of 1.3%.
Year-over-year, German factory orders dropped at an annualized rate of 4.7% in September, disappointing expectations for a 1.5% decline, after falling at a rate of 4.8% in August.
Following the release of the data, the euro was lower against the U.S. dollar, with EUR/USD shedding 0.1% to trade at 1.2785.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.5%, France's CAC 40 rose 0.6%, Germany's DAX gained 0.5%, while London’s FTSE 100 was up 0.5%
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 3.3% in September, compared to expectations for a 0.5% decline.
August’s figure was revised to a 0.8% drop from a previously reported decline of 1.3%.
Year-over-year, German factory orders dropped at an annualized rate of 4.7% in September, disappointing expectations for a 1.5% decline, after falling at a rate of 4.8% in August.
Following the release of the data, the euro was lower against the U.S. dollar, with EUR/USD shedding 0.1% to trade at 1.2785.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.5%, France's CAC 40 rose 0.6%, Germany's DAX gained 0.5%, while London’s FTSE 100 was up 0.5%