German factory orders rise 0.6% m/m in March, miss estimates (EUR turns lower)

The German factory orders rebounded in the month of March, easing fears over worsening economic situation in Europe’s largest economy.

Contracts for goods ‘Made in Germany’ arrived at +0.6% on the month vs. +1.5% forecast and -4.2% last, the latest data published by the Federal Statistics Office showed on Tuesday.

On an annualized basis, Germany’s industrial orders fell 6.0% vs. -6.2% expectations and -8.4% last.