By Maria Martinez
German manufacturing orders rose by more than expected in March, federal statistics office Destatis said Thursday.
Manufacturing orders grew 3.0% on month in March in adjusted terms after a revised 1.4% increase in February, according to Destatis. Economists polled by The Wall Street Journal had expected March orders to grow 1.7% on month.
On an annual basis, orders rose 27.8%, adjusted for calendar and price effects.
New orders in March were 9.1% 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 March, domestic orders rose 4.9% on month while foreign orders increased 1.6%, Destatis said.
German industrial production data for March is due to be published on Friday.
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