Germany January industrial orders +1.0% vs -0.9% m/m expected

• Prior +3.2%; revised to +3.4%

Despite the headline reading showing a beat, the details reflect a bit of mixed picture to start the year for German industrial orders. Domestic orders dropped by 5.3% in January, while foreign orders increased by 5.5%. Here's the breakdown if you want to go by how things are by sectoral performance:

• Capital goods +8.9%
• Intermediate goods -8.9%
• Consumer goods -5.5%

In particular, the big jump in capital goods was helped by a strong increase (which may be a one-off) in aircraft and spacecraft construction - which contributed +138.5% on the month.

/EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term