According to the German Federal Statistical Office (Destatis) data, the country's factory orders rose 1.4 percent in January, exceeding the expected 0.7 percent increase. Factory orders decreased by 1.9 percent in December.

When analyzed on an annual basis, factory orders increased by 2.5 percent compared to July of the previous year, against the expectation of 6.4 percent.

Orders from abroad increased by 3.9 percent and domestic orders by 4.4 percent in July.