German Factory Orders Fall Less Than Expected

Germany's factory orders declined less than expected in February, data from Destatis revealed Monday.

Factory orders fell 1.4 percent month-on-month in February after rising by revised 4.8 percent in January. Orders were expected to fall 2.5 percent.

Domestic orders grew 1.7 percent, while foreign demand fell 3.6 percent in February from the previous month.

On a yearly basis, factory orders grew 1.5 percent, in contrast to a 0.8 percent drop in January. Economists had forecast a marginal drop of 0.2 percent.

Data showed that manufacturing turnover edged up 0.1 percent in February but slower than the 1.1 percent increase seen in January. 

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