MARKET WATCH - No Signs of Improvement on the Horizon for German Manufacturing Sector

Forex - Vincent Stamer from Commerzbank stated that Germany's factory orders were disappointing in November and that the positive trend in large-scale orders seen in recent months has come to an end. Total orders fell by 5.4%, which is much worse than the expectations for flat growth, indicating the end of the slight positive trend observed in the autumn. Stamer remarked, “An improvement in the state of German manufacturing is still not in sight.” He noted that a survey conducted by the Ifo Institute revealed that manufacturing firms rated their business conditions as very weak, with expectations having further declined. However, he added, "When excluding large orders over 50 million euros, orders actually increased by 0.2%, indicating signs of bottoming out, albeit at a low level."