By Maria Martinez
German manufacturing orders rose by more than expected in January, federal statistics office Destatis said Friday.
Manufacturing orders grew 1.4% on month in January in adjusted terms after a revised 2.2% contraction in December, according to Destatis. Economists polled by The Wall Street Journal had expected January orders to grow 0.5% on month.
On an annual basis, orders rose 2.5%, adjusted for calendar and price effects.
New orders in January were 3.7% higher in seasonally- and calendar-adjusted terms compared with February 2020, the month before restrictions were first imposed in Germany due to the coronavirus pandemic.
In January, domestic orders fell 2.6% on month while foreign orders increased 4.2%, Destatis said.
German industrial production data for January is due to be published on Monday.
Write to Maria Martinez at firstname.lastname@example.org