German factory orders remain flat

German factory orders held steady in February after a surge in January as an increase in foreign demand for basic goods and machinery countered a drop in domestic orders. Orders, adjusted for seasonal swings and inflation, were unchanged from January, when they jumped 5.1 per cent, the Economy Ministry in Berlin said yesterday. Economists had forecast a 0.5 per cent decline for February, according to the median of 27 estimates in a Bloomberg News survey.

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