- German Factory Orders rebounded 3.2% MoM in December vs. 2.0% expected.
- German Factory output slumped 10.1% YoY in December vs. -7.1% expected.
- EUR/USD remains unfazed below 1.0800 following the mixed German data.
The German Factory Orders jumped more than expected in December, suggesting that the manufacturing sector activity is making a comeback.
According to the latest data published by the Federal Statistics Office showed on Monday, contracts for goods ‘Made in Germany’ came in at 3.2% on the month vs. 2.0% expected and -4.4% prior,
On an annualized basis, Germany’s Industrial Orders arrived at -10.1% in the reported month vs. -7.1% expected and -10.2% booked in November.
FX implications
The shared currency shows little to no reaction to the mixed German factory data. At the time of writing, EUR/USD is down 0.06% on the day, trading at 1.0785.
