Surprise Of The Day: Germany Manufacturing Orders Fell 2.2% In July
It’s a slow day both in terms of data scheduled to be released and in terms of trading. The bias is negative.
Surprise of the day is 2.2% fall in German manufacturing orders for July. The consensus was at 0.5%, June reading at 3.2%. Given the recent strength in German economy, this comes as a quite big negative surprise.
Chart 1. Germany Manufacturing Orders Monthly Change SA
Source: Bloomberg