Germany's factory orders fell more than expected in April, exacerbating the risk of economic contraction in the second quarter.

According to the Wisdom Finance app, Germany's factory orders in April fell more than expected, further intensifying concerns that the market may shrink in the second quarter under the impact of the Middle East war and soaring energy costs on the largest economy in Europe. Data released by the German Federal Statistical Office on Monday showed that factory orders fell by 3.8% month-on-month in April, below the expected 2% decline by most economists, and revised down from a 4.5% increase in March.