Germany’s Factory Orders Unexpectedly Rebounded in May: Economy

German factory orders unexpectedly rebounded in May, suggesting Europe’s largest economy maintained some growth momentum into the second quarter.

Orders, adjusted for seasonal swings and inflation, rose 0.6 percent from April, when they declined a revised 1.4 percent, the Economy Ministry in Berlin said today. Economists forecast orders would hold steady in May, according to the median of 36 estimates in a Bloomberg News survey. From a year earlier, orders fell 5.4 percent when adjusted for work days.