German industrial orders rebound in May

AFP, FRANKFURT: Industrial orders in Germany rebounded in May after a slide in April, preliminary official data showed yesterday, but fell short of analysts’ hopes for Europe’s largest economy.

There were 1.0 per cent more new contracts in May than in the previous month, correcting for seasonal effects, federal statistics office Destatis said in a statement.

May’s rebound was well short of forecasts from analysts surveyed by data company Factset, who had predicted growth of 1.9 per cent.

Destatis noted that discounting more volatile large contracts for items like aircraft showed a slight contraction of 0.3 per cent in overall orders in May, correcting for seasonal and calendar effects.

German industrial orders rebound in May

AFP, FRANKFURT: Industrial orders in Germany rebounded in May after a slide in April, preliminary official data showed yesterday, but fell short of analysts hopes for Europes largest economy. There were 1.0 per cent more new contracts in May than in the previous month, correcting for seasonal effects, federal statistics office Destatis said in a statement. Mays rebound was well short of forecasts from analysts surveyed by data company Factset, who had predicted growth of 1.9 per cent. Destatis noted that discounting more volatile large contracts for items like aircraft showed a slight contraction of 0.3 per cent in overall orders in May, correcting for seasonal and calendar effects.