Germany’s factory orders rebound in Feb

According to the data released by Destatis, Germany’s factory orders rebounded in February after a sharp fall in January.

The country’s factory orders increased by 3.4% on a monthly basis following a revised fall of 6.8% in the previous month. However, the rise fell below the estimates of an increase of 4%.

The rise in factory orders in February was mainly driven by an increase of 8.1% in domestic orders, 8.5% in intermediate goods, 2.7% in consumer goods and 0.3% in capital goods.