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Financial News: German Factory Orders Rebound Less Than Expected

German Factory Orders Rebound Less Than Expected

05/07/2019 - 03:28:00 (RTTNews)

(RTTNews) - German manufacturing orders grew less than forecast in March after falling in the previous two months, preliminary data from the Federal Statistical Office showed on Tuesday.

Factory orders grew 0.6 percent from February, when they fell 4 percent, which was revised from 4.2 percent. In January, orders shrunk 2.1 percent.

Economists had forecast a 1.5 percent increase in orders in March. The latest gain was the weakest in five months.

Without major orders, factory orders decreased 1.9 percent from the previous month.

Domestic orders fell 4.2 percent, while foreign demand grew 4.2 percent. Orders from the euro area rose 8.6 percent and those from other countries climbed 1.4 percent.

Orders for intermediate goods decreased 1.5 percent, while the demand for capital goods increased 1.1 percent. New orders for consumer goods rose 6.4 percent.

On a year-on-year basis, factory orders fell 6 percent in March after an 8.1 percent decrease in February. Economists were looking for a 5.4 percent slump.

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