German Factory Orders Rise More Than Expected In June

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Germany's factory orders rose more than expected in June, data released by the Federal Ministry of Economics and Technology showed Thursday.

Orders rose 4.5% month-on-month in June after an increase of 4.4% in May, while they were expected to rise only 0.6%. That was the fourth increase in a row.

The strong monthly increase was driven by foreign orders, which climbed 8.3% on a monthly basis. Domestic orders grew 0.2%, the ministry said.

Compared to the previous year, factory orders plunged 25.3% following a fall of 29.4% in May. Orders has been falling since May 2008.

Germany's factory orders rose more than expected in June, data released by the Federal Ministry of Economics and Technology showed Thursday. (Market News Provided by RTTNews)