German Factory Orders Up 4.4% on the Month... Down 29.4% YoY

Meant to throw this in the earlier post with the British Industrial Production, but slipped up. I understand we don't need two European production data points in one morning, but here it is... ForexTV reports:

Tuesday, the Federal Ministry of Economics and Technology said German factory orders recorded a monthly growth of 4.4% in May, much larger than the expected increase of 0.5% and April's 0.1% rise.

Year-on-year, orders plummeted 29.4% in May, slower than the 37.1% decline seen in April. Domestic orders were down 25%, while foreign orders plunged 33%.
In the two month comparison, ordersincreased 4.2%. Domestic and foreign demand climbed 3.9% and 4.5%, respectively.

Tuesday, the Federal Ministry of Economics and Technology said German factory orders recorded a monthly growth of 4.4% in May, much larger than the expected increase of 0.5% and April's 0.1% rise.

Source: destatis.de