German Factory Orders rebound 0.2% MoM in February vs. 0.8% expected

Germany’s Factory Orders rebounded in February, according to the official data published by the Federal Statistics Office on Friday, suggesting that the German manufacturing sector is on track for a recovery.

Over the month, contracts for goods ‘Made in Germany’ rose 0.2%, recovering from a 11.4% slump reported in January, missing the estimates of 0.8%.

Germany’s Industrial Orders tumbled at an annual rate of 10.6% in the same period, compared with the previous decline of 6.2%.