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Germany factory orders drop 10.6% in August, nudging EUR/USD lower

The Federal Statistics Office data showed orders for Made in Germany goods fell 10.6% after a 3.2% rise in July, with EUR/USD down 0.1% to 1.1212.

Reported · Written up by our desk · Major Pairs

Germany’s factory orders fell sharply in August, signaling lost momentum in the country’s manufacturing sector, according to data published by the Federal Statistics Office, per FXStreet.

Over the month, contracts for Made in Germany goods dropped 10.6% in August after rising 3.2% in July, and the decline missed the expected 1.0% decrease.

The data also showed Germany’s factory orders increased 2.7% year over year in August, down from the prior rise of 14.0%.

FXStreet reported the euro edged lower on the release, with EUR/USD down 0.1% to 1.1212 in immediate trading.

Latest closeEUR/USD 1.122 ▼0.3%

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