German factory orders rise 0.3% m/m in April, beat estimates (EUR unimpressed)

The German factory orders accelerated slightly in the month of April, calming fears over dwindling economic growth in Europe’s largest economy.

Contracts for goods ‘Made in Germany’ arrived at +0.3% on the month vs. +1.1% forecast and +0.6% last, the latest data published by the Federal Statistics Office showed on Thursday.

On an annualized basis, Germany’s industrial orders fell 5.3% vs. -7.2% expectations and -6.0% last.

The shared currency remained unimpressed by the improvement in the German factory orders, keeping the EUR/USD pair better bid near 1.1235 region.