2017.08.0402:23:00UTC+00German Factory Orders Rise More Than Forecast

Germany's factory orders increased more than expected in June driven by domestic demand, data from Destatis showed Friday.

Orders grew 1 percent in June from May, when they increased by revised 1.1 percent. Orders were forecast to grow moderately by 0.5 percent.

Excluding major orders, manufacturing orders climbed 2 percent on month in June.

Domestic orders grew 5.1 percent, while foreign orders declined 2 percent in June. New orders from the euro area were down 2.4 percent, and that from other countries decreased 1.5 percent.

Data showed that manufacturing turnover gained 0.3 percent month-on-month in June, slightly faster than the revised 0.1 percent rise seen in May.