3/5, 8:00 AM (Source: TeleTrader)
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German factory orders climb 1.4% in January

Seasonally and price-adjusted new factory orders in Germany grew 1.4% in January compared to December's revised levels, the country's Federal Statistical Office Destatis unveiled on Friday. The figure came in higher than analysts expected. On an annual basis, German factory orders increased by 2.5%.

The volume of domestic factory orders slipped 2.6% monthly in January, while foreign orders rose 4.2% month-over-month in January.

The growth in orders from abroad was supported by increases in new orders that came from the euro area and other countries, which marked a monthly increase of 3.9% and 4.4%, respectively.

Breaking the News / GA