Photo: DPA, Arne Dedert

Factory orders for Germany fell 2.1% in April, following two straight months of expansion, reports Bloomberg. The decline, down from 1.1% growth in March, missed median Bloomberg survey estimates of a 0.3% drop.

The often volatile measure was up 3.5% from the previous year.

“Slight upward momentum in output and sales as well as stellar business climate send strong signals for a continuation of the moderate upswing in manufacturing,” the Economy Ministry said in a statment.

The ECB is set to meet on Thursday, where policy makers will weigh in on whether the economic recovery is strong enough to begin a gradual unwinding of stimulus.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.