German Manufacturing Orders Rose More Than Expected in March

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.

Write to Maria Martinez at [e-mail]

(END) Dow Jones Newswires

05-06-21 0223ET