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- This morning's German factory orders were a solid beat, with factory orders rising +3.4% vs. Exp. -0.7%. This belies a slightly weaker set of underlying numbers, however, with today's release skewed by an unusually large rise in foreign bulk orders - effectively driven by a one-off order of shipping products from outside the Euro-area.
- More infitting with expectations, domestic factory orders and factory orders from within the Euroarea declined across the same period.