Factory orders in German manufacturing sector grew in March

The new factory orders in the German manufacturing sector grew by 1.9% MoM in March, according to seasonally adjusted data from the federal statistics office Destatis. This is the fastest growth pace since June 2015. the analysts’ expectations were for a more modest increase of 0.7%. Moreover, the value for February was revised upwards to decrease of 0.8%, from the previous 1.2% as originally reported.

The industrial new orders without large orders in the manufacturing sector declined in March by 0.6% compared to February this year.

During the third month of the year, the orders from Germany decreased by 1.2% and those from abroad rose by 4.3%. The new orders from the Eurozone grow by 1.1% and from other countries – by 6.2%.

In intermediate goods has decreased by 1.2%, while capital – an increase of 4%. There has been an increase in orders for consumer goods by 1.6%.

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