German Factory Orders Climb 3.1% in June, Beat Estimates

German factory orders rose 3.1% in June, beating consensus estimates and suggesting a pickup in the country’s manufacturing sector. The data, released by the Federal Statistics Office, marked a notable improvement after a previous decline.

The better-than-expected figure could ease concerns about Germany’s industrial slowdown and lend support to the euro in the near term. Month-over-month gains were driven by stronger domestic and foreign demand, although details by sector were not immediately available.

The release adds to a mixed picture of the eurozone economy but may reinforce expectations that the European Central Bank will maintain a cautious stance on rate cuts.