German Factory Orders Rise More Than Expected In June

(RTTNews) - German factory ordersrose more than expected in June, as domestic orders recovered and growth in external orders quickened, data released by the Federal Ministry of Economics and Technology showed Thursday.

Seasonally adjusted factory orders rose 3.2% month-on-month in June following a revised 0.1% decline in May. Economists had forecast 1.4% rise. Domestic orders rose 0.3%, reversing a 0.5% fall in May, while external orders increased at a faster pace of 5.7% compared with May's 0.3% rise.

On an annual basis, factory orders grew 24.6% in June compared to May's revised 25.1% gain. Economists had foreseen 21.6% increase.