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German Factory Orders Rise Less Than Forecast After Lockdown

  • Demand jumped 10.4% in May, below estimate for 15.4% gain
  • Orders surge for investment goods, particularly from euro area
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German factory orders rose less than expected in May even after authorities loosened the coronavirus lockdown, highlighting how difficult it will be to repair the pandemic’s damage.

Orders rose 10.4% in May, following a cumulative slump of more than 37% in the previous two months. The Economy Ministry said that while the data suggest Germany’s industrial recession has passed the trough, “the low level of orders also indicates that the catch-up process won’t be completed for a long time.”