German factory orders jumped in February 2014

Noam Stiekema

The German factory orders grew in February, which is another indication that the growth in European largest economy is gaining strength in the new year. The orders, adjusted to seasonal changes and inflation, rose with 0.6% on a monthly basis from the revised growth of 0.1% in January, announced today the Federal Statistical Office of […]

German Factory ordersThe German factory orders grew in February, which is another indication that the growth in European largest economy is gaining strength in the new year. The orders, adjusted to seasonal changes and inflation, rose with 0.6% on a monthly basis from the revised growth of 0.1% in January, announced today the Federal Statistical Office of Germany. The economists forecasts were for growth of 0.3%, so the results were surprisingly good and stimulated the European markets and key benchmarks.

The growth of the German economy probably increased “significantly” in the first quarter of 2014, according to Bundesbank, mostly due to the recovery of the Eurozone and the warm winter, which has had a beneficial effect over the construction sector. Nevertheless, the weaker business confidence indices and the activity in manufacturing and services in the country show that the German economy still faces obstacles, including slowing the development of China and the escalation of tensions between the EU and Russia in relation to Crimea.

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