German factory orders growth accelerates in February

Wpid Money Growth

(dpa) – Germany’s factory orders growth accelerated in February driven by domestic demand, data from Destatis showed on Thursday.

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

Excluding major orders, new orders in manufacturing were 1.5 per cent higher than in the previous month. Domestic orders increased 4.0 per cent, while foreign orders decreased 0.5 per cent in February on the previous month.

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

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