German factory orders rise less than expected

(Sharecast News) - New orders across Germany's manufacturing sector rebounded less than expected in February, following the steepest drop in more than two years in January, with a sharp drop in orders of transport equipment limiting growth. Price-adjusted factory orders improved by just 0.9% over the month, following an 11.1% plunge in January, according to the federal statistical agency, Destatis.

January's decline was the first since August and the largest drop registered since January 2024.

New automotive orders were 3.8% higher in February and basic metals rose 3.7%, while textiles orders surged 45.2%, however, that was almost entirely offset by a 25.9% slump in orders for aircraft, ships, trains and military vehicles.

Excluding large-scale orders, factory orders would have been up 3.5% over the month.

According to Destatis, real turnover across the German manufacturing sector was down 0.5% over February, following a 0.7% increase in January.