German industry orders rise more than expected in February

BERLIN, April 4 Fri Apr 4, 2014 2:07am EDT

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BERLIN, April 4 (Reuters) - Domestic demand for capital and intermediate goods drove a stronger-than-expected 0.6 percent rise in German industrial orders in February after a downwardly revised 0.1 percent gain in January, data from the Economy Ministry showed on Friday.

The fourth consecutive monthly increase in orders beat the consensus forecast in a Reuters poll of 32 economists for a rise of 0.1 percent. Orders were originally reported to have risen 1.2 percent in January on a seasonally-adjusted basis.

"The data suggests industrial production will continue to revive in the coming months and momentum in domestic demand is picking up in the first quarter," the Economy Ministry said in a statement.

Domestic orders for industrial goods were up 1.2 percent while contracts from abroad inched up 0.2 percent. (Reporting by Sarah Marsh and Stephen Brown)


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