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Germany May industrial orders -1.6% vs +0.5% m/m expected

Prior -0.2%; revised to -0.6%

That’s not a pretty number with a softer revision in April to boot. If you strip out large orders, incoming orders in May were down 2.2% relative to the month before. Looking at the details, the drop owes much to a decline in foreign orders (2.8%) while domestic orders were higher (+0.5%) on the month.

This article was written by Justin Low at www.forexlive.com.

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