Germany reported an unexpected drop in Factor Orders in March confirming the unstable state of global recovery and the start of the downside effect from the stronger euro and high commodity prices cutting purchasing power world wide.

Factory Order in March slumped 4.0% from a downside revised rise of 1.9% from 2.4% and much below the expected 0.4% gain. On the year, orders are higher by 9.7% from a revised 19.6% from 20.1% and below the expected 15.4%.