German Factory Orders rise 0.6% MoM in April vs. -1% expected

Germany's Factory Orders unexpectedly rose in April, suggesting that the country’s manufacturing sector sustained its recovery, according to the official data published by the Federal Statistics Office on Thursday.

Over the month, contracts for goods ‘Made in Germany’ ticked up 0.6% in April after rebounding by 3.6% in March. Data beat the estimates of -1%.