Investing.com - German factory orders rose less-than-expected in February, renewing concerns over the economic outlook of the euro zone’s largest economy, official data showed on Wednesday.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 0.3% in February, below expectations for a 1.2% increase.
January’s figure was revised to a 1.8% decline from a previously reported drop of 2.7%.
Year-over-year, German factory orders dropped at an annualized rate of 6.1% in February, worse than expectations for a 5.5% decline after falling at a revised rate of 6.0% in January.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.45% to trade at 1.3175.
Meanwhile, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.05%, France's CAC 40 dropped 1.2%, London’s FTSE 100 fell 1.2%, while Germany's DAX sank 1.75%.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 0.3% in February, below expectations for a 1.2% increase.
January’s figure was revised to a 1.8% decline from a previously reported drop of 2.7%.
Year-over-year, German factory orders dropped at an annualized rate of 6.1% in February, worse than expectations for a 5.5% decline after falling at a revised rate of 6.0% in January.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.45% to trade at 1.3175.
Meanwhile, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.05%, France's CAC 40 dropped 1.2%, London’s FTSE 100 fell 1.2%, while Germany's DAX sank 1.75%.