German factory orders rise faster than forecast

German industrial orders rose more than forecast inFebruary following a surge in demand from the eurozone, data released Fridayshowed.Factory orders in Europe’s biggest economy grew by 0.6 per cent in February afterincreasing by 0.1-per-cent in January, German press agency (DPA) quoted the FederalStatistics Office as saying.Analysts had expected a more modest gain of 0.2 per cent.Helping to drive the orders was a 5.9-per-cent jump in demand from the18membereurozone and 1.2-per-cent rise in domestic orders.Foreign orders increased by 0.2 per cent after demand from nation’s outside theeurozone slumped by 3.1 per cent.