German Industrial Orders Experience Modest Rise in February, Falling Below Expectations
In February, German industrial orders experienced a modest increase, though falling short of expectations, indicating ongoing weakness in manufacturing demand.
According to the federal statistics office, new orders rose by 0.2% compared to the previous month, adjusted for seasonal and calendar factors. This figure is below the 0.8% rise predicted by analysts surveyed by Reuters.
The provisional data for January underwent revision, revealing a steeper decline of 11.4% on a monthly basis, rather than the previously reported 11.3% decrease.
The downward trend in Germany's manufacturing sector, which constitutes approximately one-fifth of the nation's economy, persisted into March, as evidenced by the manufacturing Purchasing Managers' Index (PMI).
Paraphrasing text from "Reuters" all rights reserved by the original author.
