Key insights
- German factory orders rose 0.9% in February, rebounding from a sharp 11.1% slump in January. The increase slightly missed expectations. The report precedes the impact of the energy price shock from the war in Iran, suggesting potential for further economic headwinds in the future. This could negatively impact US equities through weaker global growth.
Investing.com -- German manufacturing orders returned to growth in February, climbing 0.9% on month after a sharp decline in January, according to data released Wednesday by Germany’s statistics agency Destatis.
The February increase followed an 11.1% slump in factory orders in January. The January decline was driven by a fall in large-scale orders valued at more than 50 million euros, or $58 million, which remained weak in February.
A consensus of economists polled by The Wall Street Journal had expected 1.0% overall growth in orders for February.
The data reflects conditions before the energy-price shock resulting from the war in Iran.
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