Thursday, the Federal Ministry of Economics and Technology said in a report that German factory orders registered an unexpected monthly increase of 3.3% in March, following a revised fall of 3.1% in February. Economists were expecting a 1% decrease.
However, orders plummeted 26.7% in March from the previous year versus February's 38% decline and 35.8% drop expected by economists.
Among the three main industrial groupings, orders for capital goods showed the largest monthly growth of 4.9%. Intermediate and consumer goods orders were up 1.6% and 1.5%, respectively.
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