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Financial News: German Factory Orders Rebound Less Than Expected

German Factory Orders Rebound Less Than Expected

04/06/2017 - 02:13:00 (RTTNews)

(RTTNews) - Germany's manufacturing new orders grew less-than-expected in February after a steep fall in the previous month, preliminary data from Destatis showed Thursday.

Factory orders rose a seasonally and working-day adjusted 3.4 percent month-on-month, which was less than the 4 percent increase economists' had forecast.

January's decline was revised to 6.8 percent from 7.4 percent.

Without major orders, factory orders grew a price-adjusted 2.2 percent from January.

Domestic orders increased 8.1 percent, while foreign orders were flat. New orders from the euro area declined 2.4 percent on the previous month, while those from other countries increased 1.6 percent.

Demand for intermediate goods rose 8.5 percent and orders for capital goods increased of 0.3% on the previous month. Orders for consumer goods grew 2.7 percent.

Manufacturing turnover rose a seasonally and working-day adjusted 1.3 percent on the previous month. January's growth was revised down to 2.1 percent from 3.7 percent.

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