German manufacturing orders fell −3.8% month on month in April, far below the −2.2% consensus, with intra-euro area demand down 11.1%. Eurostat revised Q1 eurozone GDP to −0.2% QoQ. The ECB hikes Thursday anyway.
Destatis data confirms German industrial production rose 0.4 percent month on month in April, reversing the prior decline as markets digest the euro area's first-quarter GDP contraction. Source
