German industrial orders rise on strong domestic demand in February
The increase came after a downwardly revised rise of 0.8% in January
A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company's plant in Winsen, Germany, July 10, 2018. Picture taken July 10, 2018. REUTERS/Fabian Bimmer
German industrial orders rose for the second month in a row in February driven by strong domestic demand, data showed on Thursday in a further sign that manufacturers are set to cushion a pandemic-related drop in overall output in the first quarter.
The data published by the Federal Statistics Offices showed orders for industrial goods increased on the month by 1.2% in seasonally adjusted terms. This was in line with a Reuters forecast.
The increase came after a downwardly revised rise of 0.8% in January.
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Domestic orders jumped by 4% on the month while foreign orders fell by 0.5%. Still, bookings from other euro zone countries increased by 2.7%.
