German Factory Orders decline 1.5% MoM in October vs. -2.0% expected

According to the official data published by the Federal Statistics Office on Thursday, Germany's Factory Orders declined in October, suggesting that the German manufacturing sector resumed its downward trajectory.

Over the month, contracts for goods ‘Made in Germany’ fell by 1.5% in October after the revised 7.2% jump reported in September. Data beat the estimates of a 2.0% decrease.

Germany’s Industrial Orders rose 5.7% year-on-year (YoY) in October, compared to the revised growth of 4.2%.

FX implications

The Euro holds gains after strong German data, with the EUR/USD higher by 0.23% on the day at 1.0533, as of writing.