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Germany's factory orders increased by 0.9% in February, reversing the sharp decline in January.
Investing.com – Data released Wednesday by Germany’s Federal Statistical Office (Destatis) showed that German manufacturing orders resumed growth in February, rising 0.9% month over month and reversing the steep decline seen in January.
The increase in orders in February came after a 11.1% plunge in factory orders in January. The January drop was mainly due to a decline in large orders worth more than 50 million euros (about $58 million), and these orders remained weak in February.
Economists surveyed by The Wall Street Journal had previously broadly expected overall orders to rise 1.0% in February.
The data reflects conditions before the energy price shock triggered by the Iran war.
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