German Factory Orders plunge 5.4% MoM in November vs. 0% expected

The official data published by the Federal Statistics Office showed Wednesday that Germany's Factory Orders unexpectedly slumped in November, suggesting that the country’s manufacturing sector resumed its downturn.

Over the month, contracts for goods ‘Made in Germany’ plunged by 5.4% in November after the 1.5% decline reported in October. Data missed the estimates of a 0% print.

Germany’s Industrial Orders dropped 1.7% year-on-year (YoY) in November, against the previous jump of 5.7%.

FX implications

The Euro sees some mild selling after the German data, with EUR/USD flat on the day at 1.0343, as of writing.