Latest data released by Destatis - 8 April 2021
- Prior +1.4%; revised to +0.8%
- Factory orders WDA +5.6% vs +5.3% y/y expected
- Prior +2.5%; revised to +1.4%
The readings meet estimates as German industrial orders reflect a slight bounce again in February, as previewed by the manufacturing PMI reports previously. This just reaffirms the narrative that the industrial/manufacturing sector is holding up well to start the year but the key focus remains on the outlook going into 2H 2021.
