Investing.com – German factory orders rose significantly more-than-expected in February, increasing for the second consecutive month, official data showed on Wednesday.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.4% in February, after jumping by 3.1% in January, whose figure was revised up from 2.9%.
Analysts had expected German factory orders to rise by 0.5% in February.
The data showed that year-on-year German factory orders rose at an annualized rate of 20.1% in February, after rising by 16% in January. Analysts had expected year-on-year German factory orders to rise at an annualized rate of 17.4%.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.62% to hit a 14-month high of 1.4311.
Meanwhile, European stock markets were up. The EURO STOXX 50 added 0.41%, France’s CAC 40 eased up 0.1%, Germany's DAX gained 0.65%, while the FTSE 100 rose 0.5%.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.4% in February, after jumping by 3.1% in January, whose figure was revised up from 2.9%.
Analysts had expected German factory orders to rise by 0.5% in February.
The data showed that year-on-year German factory orders rose at an annualized rate of 20.1% in February, after rising by 16% in January. Analysts had expected year-on-year German factory orders to rise at an annualized rate of 17.4%.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.62% to hit a 14-month high of 1.4311.
Meanwhile, European stock markets were up. The EURO STOXX 50 added 0.41%, France’s CAC 40 eased up 0.1%, Germany's DAX gained 0.65%, while the FTSE 100 rose 0.5%.