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Financial News: German Factory Orders Growth Accelerates In February

German Factory Orders Growth Accelerates In February

04/08/2021 - 02:08:00 (RTTNews)

(RTTNews) - Germany's factory orders growth accelerated in February driven by domestic demand, data from Destatis showed on Thursday.

Factory orders grew 1.2 percent month-on-month in February, faster than the 0.8 percent increase in January. The monthly growth matched economists' expectations.

Excluding major orders, new orders in manufacturing were 1.5 percent higher than in the previous month.

Domestic orders increased 4.0 percent, while foreign orders decreased 0.5 percent in February on the previous month.

On a yearly basis, growth in industrial orders improved notably to 5.6 percent from 1.4 percent a month ago.

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