Latest data released by Destatis - 6 March 2020
- Prior -2.1%
- Factory orders -1.4% vs -5.2% y/y expected
- Prior -8.7%
Slight delay in the release by the source. That's a huge spike in factory orders to start the year but the VDMA did preempt this a little yesterday as machine orders rose for the first time since 2018 on a yearly basis.
The details show that this owes to a spike in bulk orders to start the new year, rather than a major turning point - with capital goods orders rising by 7.1% m/m.
Still, it is a good start to the year for Germany but then again, this data here is largely pre-virus so it doesn't really matter all too much for the market currently.
