April 5, 2018 / 6:15 AM / 3 months ago

German industrial orders rise less than expected in February

BERLIN, April 5 (Reuters) - German industrial orders rose less than expected in February due to weak domestic demand, data showed on Thursday, but the Economy Ministry said demand should pick up later this year.

Contracts for ‘Made in Germany’ goods rose by 0.3 percent after falling by an upwardly revised 3.5 percent in January, data from the Economy Ministry showed.

The reading undershot a Reuters poll of analysts who had predicted a 1.5 percent increase.

“Despite the subdued demand so far this year orders should remain on an upward course,” the economy ministry said in a statement. “The global economy remains in upswing which should keep demand for German industrial goods on a high level.” (Reporting by Joseph Nasr Editing by Caroline Copley)

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