The FINANCIAL -- German manufacturing orders fell less than expected in May, while the upswing in April was stronger than previously estimated, possibly providing ground for cautious optimism in Europe's largest economy, according to Nasdaq.
Manufacturing orders fell by 0.2% in May on the month in adjusted terms, data from the economy ministry showed on July 6. This contraction is less than the 0.5% decline expected by economists in a survey by The Wall Street Journal.
The April data was revised upwards to show a 2.2% expansion compared with a first estimate of 1.4% expansion, the ministry added.
In May, foreign orders grew by 0.2% on the month, while domestic orders fell by 0.6%, the ministry said.
The ministry said the volume of big ticket orders was lower than usual for a month of May.
Orders from the eurozone fell by 1.5% on the month, while they increased by 1.2% from countries outside the eurozone.