German industrial orders beat forecasts, hinting at recovery
German factory orders rose more than expected in March, offering the first clear sign of a manufacturing rebound.
German factory orders jumped 3.2% month-on-month in March, sharply beating expectations of a 0.4% rise. The print offered the first clear sign of recovery after a prolonged industrial slump.
Domestic orders rose 1.8% while foreign orders climbed 4.1%. Autos and machinery were the largest contributors to the rebound.
The DAX rose 0.6% on the day following the release. Signs of recovery in the eurozone's largest economy complicate the ECB's path on rate cuts.
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