German factory orders rose 1.9% MoM in May, after April was revised to -3.2%,
beating a market forecast of +1.1%. The increase was driven by transport
equipment orders, including military contracts, suggesting defense procurement
is supporting demand. Excluding large one-off orders, new orders rose 1.0% MoM.
The three-month rolling series fell 0.2%. Germany’s economy ministry said
manufacturing new orders appear to be reverting to the H2 uptrend seen last year
but remain highly volatile due to large orders, and geopolitical uncertainty
will stay elevated until US‑Iran talks conclude.
