German factory orders plunge 2.2% m/m in May, a big miss (EUR keeps lows)

The German factory orders decelerated in the month of May, re-igniting fears over a deeper economic slowdown in Europe’s largest economy.

Contracts for goods ‘Made in Germany’ arrived at -2.2% on the month vs. -0.1% forecast and +0.3% last, the latest data published by the Federal Statistics Office showed on Friday.

On an annualized basis, Germany’s industrial orders fell -8.6% vs. -5.7% expectations and -5.3% last.