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German industrial orders recover in Feb after sharp drop in Jan
April 6, 2017 / 6:00 AM / 8 months ago

German industrial orders recover in Feb after sharp drop in Jan

BERLIN, April 6 (Reuters) - German industrial orders picked up in February after plummeting the previous month but the rise in contracts for factories in Europe’s largest economy was weaker than expected, data showed on Thursday.

Contracts for ‘Made in Germany’ goods were up by 3.4 percent on the month, the Economy Ministry said. That missed the Reuters consensus forecast for a 4.0 percent increase but came after an upwardly revised drop of 6.8 percent in January.

A breakdown of the February data showed domestic demand surged by 8.1 percent while foreign orders were unchanged. Bookings from the euro zone fell by 2.4 percent.

The Economy Ministry said it expected the industrial sector’s performance to improve slightly. (Reporting by Michelle Martin)

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