Photo: AP Images
ORIGINAL POST: A big datapoint coming up in Europe at 6:00 AM ET.German factory orders. Analysts expect a sequential 0.6% increase for January, though a 1.7% decrease from the year before.
We’ll have the number here LIVE.
UPDATE: Huge miss…
German factory orders fell 2.7% in January… MUCH worse than the 0.6% that was expected.
On an annualized basis, they fell a whopping 4.9%, again, far worse than the 1.7% decline that analysts had anticipated.
According to Markit, a major culprit was a 5.5% decline in foreign demand.
To get an idea of what this means for the German economy on the whole, just check out this chart from Reuters’s Scott Barber (@scottybarber):
Photo: Scott Barber via Twitter
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