Economic Buzz: German Factory Orders Drop 2.2% On Month In February

6 Apr 2022 , 01:06 PM

Germany factory orders decreased 2.2 percent month-on-month in February, in contrast to the 2.3 percent increase in January, data from Destatis revealed on Wednesday. At the same time, annual growth in overall new orders eased sharply to 2.9 percent from 8.2 percent in January. New orders from foreign countries decreased 3.3 percent from January. Within this foreign demand, orders from eurozone were down 3.3 percent and that from non-eurozone economies slid 3.4 percent. At the same time, domestic orders logged monthly fall of 0.2 percent. Further, data showed that domestic turnover fell 1.4 percent in February, reversing a revised 1.6 percent increase in January

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