Germany Factory Orders Edge Up In May

German factory orders saw a slight increase in May, according to the country's statistical office Destatis on Wednesday.

New orders in manufacturing went up by 0.1% from April, marking the first improvement, though small, in four months.

Foreign orders in manufacturing rose by 1.3% in May, with new orders from the non-euro area going up by 3.7%.

"New orders from the euro area fell by 2.4% and domestic orders registered a decrease of 1.5% in the previous month," the data indicated.

Meanwhile, on an annual basis, the figure was down by 3.1%.

"Enterprises still have difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the COVID-19 crisis, such as the closure of ports in China," the report said. -