German factory orders decline in February

5th April 2016, Comments 0 comments

German industrial orders, a key measure of demand for goods in Europe's top economy, declined in February, weighed down by falling foreign demand, the economy ministry said on Tuesday.

Provisional official data showed a decrease in orders of 1.2 percent month-on-month in February, following an increase of 0.5 percent in January.

Analysts polled by financial services firm FactSet had pencilled in a modest increase of 0.3 percent for February.

The drop was attributable to weaker foreign demand for German-made goods, including weaker demand both inside and outside the eurozone, the ministry said.

Domestic demand edged up by 0.9 percent, while foreign demand fell by 2.7 percent, by 3.7 percent from the eurozone and by 2.1 percent from outside the single currency.

© 2016 AFP

0 Comments To This Article