German Factory Orders Rise in January Twice as much as Expected

Official data revealed that orders for the supply of manufactured goods in Germany rose twice as much as expected in January, as stronger external demand helped manufacturers in Europe’s largest economy.

The data published by the Federal Statistics Office showed that orders for the supply of industrial goods increased on a monthly basis by 1.4%, after adjusting in light of seasonal factors, compared to Reuters’ expectation of a 0.7% increase.

The rise comes after a fair drop to 2.2% in December.