German Factory Orders slump 11.3% MoM in January vs. -6.0% expected

Germany’s Factory Orders slumped in January, the official data published by the Federal Statistics Office showed Tuesday, suggesting that the German manufacturing sector has returned to contraction.

On a monthly basis, contracts for goods ‘Made in Germany’ plunged 11.3%, as against a 12.0% jump reported in December, missing the forecasts of -6.0%.