German factory orders dropped back into negative territory after having climbed to 1.50% in November. According to the German Federal Ministry for Economic Affairs and Energy, factory orders reportedly declined by -0.70% during December, missing estimates of -0.50% contraction. Euro Area orders slid by -6.90% while orders outside the Euro Area climbed by 5.50%, likely benefited by the weaker Euro. Intermediate goods dropped by -2.00% alongside domestic orders which shrank by -2.50% over the same period. German companies are not as fearful about the outlook as evidenced by the combination of recent statistics and low unemployment that will hopefully reflect a spur in demand. Worries arise from Germany’s fourth biggest trading partner, China, amid concerns that tapering GDP growth over the current year may have consequences for the Germany economy.
US Jobs Growth Ebbs
Daily Analysis - 08/02/2016