Destatis released its factory orders data for Germany on Monday. German seasonal adjusted factory orders declined 0.1% in January, beating expectations for a 0.3% decrease, after a 0.2% fall in December. December's figure was revised up from a 0.7% drop.

The drop was driven by a decrease in domestic orders. Foreign orders increased by 1.0% in January, while domestic orders dropped by 1.6%.

New orders from the Eurozone jumped 7.5% in January, while orders from other countries declined 2.7%.

Orders of the intermediate goods decreased by 4.0% in January, capital goods orders were up 1.7%, while consumer goods orders climbed 3.9%.

On a yearly basis, factory orders rose 1.1% in January, after a 2.2% decline in December.