Germany’s factory orders growth accelerated more than expected in March, data from Destatis revealed on Thursday.
Factory orders increased 3 percent month-on-month in March, faster than the revised 1.4 percent increase seen in February. Orders were expected to climb 1.7 percent.
Excluding major orders, real new orders in manufacturing were 1.6 percent higher than in the previous month.
Domestic orders were up 4.9 percent and foreign orders increased 1.6 percent in March.
On a yearly basis, new order growth increased sharply to 27.8 percent from 5.8 percent in the previous month. Turnover in manufacturing increased 2 percent on month, reversing a 1.8 percent fall in February.