Destatis released its factory orders data for Germany on Monday. German seasonal adjusted factory orders declined 0.2% in May, beating expectations for a 0.4% drop, after a 2.2% rise in April. April's figure was revised up from a 1.4% gain.

The decline was driven by a drop in new orders from the Eurozone. New orders from the Eurozone plunged 1.5% in May, while orders from other countries increased 1.2%.

Foreign orders climbed by 0.2% in May, while domestic orders decreased by 0.6%.

The intermediate goods climbed by 1.3% in May, capital goods orders were down 0.8%, while consumer goods orders decreased 1.2%.