German manufacturing orders fell unexpectedly in February on extremely weak new bulk orders. According to data released by the economics ministry on Tuesday, total orders for Germany's manufacturing sector declined by a seasonally adjusted 1.20% in February compared to a month ago, coming below forecasts of 0.20%. January's manufacturing orders were revised higher to show a gain of 0.50%, from the original estimates which pointed to a decline of 0.10% during the month. The German economics ministry said that excluding the big ticket orders, German manufacturing would have been lifted by 0.30% if not for the volume of bulk orders which came out below average. On an annualized basis, Germany's manufacturing sector showed an increase of 3.40% in February compared to 12 months ago.
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Daily Analysis - 06/04/2016