GERMANY DATA: Industrial orders in Germany surprised.

GERMANY DATA: Industrial orders in Germany surprised to the downside,
falling back 4.0% in seasonally adjusted term on the month to March,
cutting the annual gain to 9.6%, the Economics Ministry reported on
Thursday.
— Germany March orders m/m below all fcasts (median +0.3%)
— Germany February mfg orders revised down to +1.9% m/m (+2.4%)
— Germany March orders 3-month moving avg (January-March:December-
February) +0.3%
— Germany 1q mfg orders +2.3% q/q, 4q +3.0%, 3q +1.6%
— Germany March domestic mfg orders -3.5% m/m, foreign -4.3% m/m
— Germany March foreign mfg orders: EMU -2.7% m/m, non-EMU -5.5%
— Germany March capital goods orders -7.2% m/m
— Germany March consumer goods orders -0.6% m/m
— Germany March basic goods orders +0.3% m/m
— For more information, please see MNI MainWire