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German recession fears grow as factory orders tumble

EURUSD News by Newsroom on 07:45 February 06, 2019 EST


After weak January EU services purchasing managers survey data yesterday, with both France and Italy’s readings in contraction territory, bearish data piles in today as German factory orders fell 1.6 per cent in the month of December taking the annualised decline to -7.0 per cent.

This is the second biggest fall in the last 9 years and the news comes after the gloomy retail sales over Christmas.

The Euro keeps trading lower and has broken the 1.14 handle.



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