Germany's factory orders unexpectedly declined by 1% month-on-month in June, marking the second consecutive month of decline.

Germany's factory orders unexpectedly fell by 1% month-on-month in June, marking the second consecutive month of decline and significantly lower than the market's expected 1% growth. This decrease was mainly due to a significant reduction of 23.1% in orders for aircraft, ships, and military vehicles, indicating the challenges facing the manufacturing sector.