05.03.202106:11:00UTC+00German Factory Orders Rise More Than Expected

Germany's factory orders grew more than expected in January driven by foreign demand, data from Destatis revealed on Friday.

Factory orders expanded 1.4 percent month-on-month in January, reversing a revised 2.2 percent fall in the previous month. Orders were forecast to climb 0.7 percent.

Domestic orders dropped 2.6 percent, while foreign demand grew 4.2 percent in January. Excluding major orders, real new orders in manufacturing were 2.8 percent higher than in the previous month.

On a yearly basis, factory orders growth slowed to 2.5 percent from 6.1 percent in the prior month.

Data showed that turnover in manufacturing decreased 1.1 percent in January after rising 2 percent in December.