© Reuters. FILE PHOTO: A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company’s plant in Winsen
BERLIN (Reuters) – German industrial orders rose for the second month in a row in February driven by strong domestic demand, data showed on Thursday in a further sign that manufacturers are set to cushion a pandemic-related drop in overall output in the first quarter.
The data published by the Federal Statistics Offices showed orders for industrial goods increased on the month by 1.2% in seasonally adjusted terms. This was in line with a Reuters forecast.
The increase came after a downwardly revised rise of 0.8% in January.
Domestic orders jumped by 4% on the month while foreign orders fell by 0.5%. Still, bookings from other euro zone countries increased by 2.7%.
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