The euro got a boost from the impressive rise in German manufacturing orders today. The eyes of Europe and the world will always look to Germany for signs of a European recovery.
Today those signs may have just come from the rest of Europe itself.
Within the German figures total orders from the eurozone increased to 4.2% from 1.2% in Feb with capital goods rising 3.8% from 1.3%. Consumer goods still posted a negative but the fall lessening to -1.4% from -3.1%.
I don’t think we’ll be seeing a sudden boom in EU economic data but this is something to monitor.
