German factory orders rise unexpectedly in June

(Sharecast News) - German industrial orders rose unexpectedly in June - defying expectations of a fall - as large-scale orders provided a boost.

Incoming orders rose 7% month on month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday. Forecasts had been for a drop of 2.0%.

Excluding large orders, industrial orders would have declined by 2.6% in June.

The statistics office also revised data for May to a 6.2% increase, down from initial estimates of 6.4%.

Reporting by Frank Prenesti for Sharecast.com