German Factory Orders Rise 1.0% In March – Stock Market Daily

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Key Numbers from Steelcase (NYSE:SCS) 4Q16 Earnings Report

German factory orders witnessed a growth of 1.0 percent on a seasonally adjusted basis in March compared to February. As far as February, DESTATIS revealed that a revision was made in the preliminary outcome with an increase of 3.5 percent than the preliminary figure of 3.4 percent compared to January.

The release indicated that price-adjusted new orders, excluding bit orders in manufacturing, grew 0.6 percent on a seasonally, as well as, working-day adjusted basis compared to February.

While domestic orders fell 3.8 percent foreign orders grew 4.8 percent in March than the previous month. Fresh orders from Euro Area recorded a growth rate of 5.8 percent from the preceding month while fresh orders from rest of the world advanced 3.5 percent.

The released viewed, In March 2017 the manufacturers of intermediate goods saw new orders fall by 3.7% compared with February 2017. The manufacturers of capital goods showed increases of 3.7% on the previous month. For consumer goods, an increase in new orders of 5.5% was recorded.

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