Germany factory orders drops more than expectations in July

Germany released the factory orders figures for July, where the seasonally adjusted index dropped by 2.8% from the previous expansion of 1.8% and below the expected drop of 1.5%.

Furthermore, the annual non-seasonally adjusted factory orders index retreated to 8.7% from the revised previous of 9.4% from 9.5%, worse than the expected expansion of 9.8%.