German industrial orders fall less than expected in May

German industrial orders fell less than forecast in May as a modest rise in foreign demand took the sting out of a decline in domestic bookings, the Economy Ministry reported on Monday.

Orders for goods made in Germany decreased by 0.2 per cent on the month, the data showed, better than a Reuters consensus forecast for a 0.4 per cent drop.

Foreign demand inched up 0.2 per cent while domestic demand dropped 0.6 per cent.

The April data was revised up sharply to an increase of 2.2 per cent from an originally reported 1.4 per cent rise.

“Economic activity of the manufacturing sector in Germany is picking up a bit,” the ministry said.

Reuters