German factory orders surprised forecasts, posting a strong reading for the month of April. Orders rose 2.8% on the month when forecasts had orders declining 0.4%. March's figure was also strong at 5.1%. What the data means is that despite weakening domestic demand as a result of the sovereign debt crisis, the sharp slide in the Euro is making European exports cheaper abroad, helping to pump up export growth. The Euro has dropped 20% against the Dollar since last November.
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