Germany’s factory orders registered a stronger-than-expected rebound in May, raising hopes of gradual recovery, official data revealed Monday.
Factory orders expanded 1.9 percent on a monthly basis in May, in contrast to the revised 3.2 percent decrease in April, Destatis reported. Orders were forecast to grow 1.1 percent.
Excluding large scale orders, new orders increased 1.0 percent from the previous month.
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