German factory orders March jump +1.9% m/m versus +0.6% expected

On monthly basis, factory orders in Germany rose 1.9% in March, as compared to a decline of 0.8% booked previously. While coming in much stronger than expectations of an increase of 0.6%.

While on annualized basis, the gauge increased by 1.7% in March, after posting a 0.7% growth in the previous month. Markets had predicted a drop of 0.1% y/y in March.