German factory orders slump 4.2% in March, a negative surprise (EUR turns lower)

The German factory orders fell further in the month of February, adding to the recent signs that Europe’s largest economy had a subdued start to 2019

Contracts for goods ‘Made in Germany’ were down by 4.2% on the month vs. 0.3% forecast and -2.6% last, the latest data published by the Federal Statistics Office showed on Thursday.

On an annualized basis, Germany’s industrial orders -8.4% vs. -5.4% expectations and -3.9% last.