German industrial orders rebound 3.4pc

FRANKFURT: Industrial orders in Europe’s biggest economy Germany rebounded 3.4 per cent in February after a sharp drop the previous month, preliminary official data showed on Thursday.
New orders — a closely watched indicator of future economic performance — had fallen a revised 6.8 per cent in January, adjusting for price, seasonal and calendar effects, said the federal statistics office Destatis.
The rebound in the indicator, which has been highly volatile in recent months, was roughly in line with analysts’ expectations. — AFP