FX.co ★ German Factory Orders Unexpectedly Rise In January

Germany's factory orders unexpectedly expanded in January underpinned by foreign demand, figures from Destatis revealed on Tuesday.

Factory orders grew 1.0 percent in January from December, confounding expectations for a decline of 0.9 percent. Nonetheless, the pace of growth eased from revised 3.4 percent in December.

On a yearly basis, manufacturing new orders declined at a faster pace of 10.9 percent after falling 9.9 percent in December.

Domestic orders dropped 5.3 percent on the previous month, while foreign orders advanced 5.5 percent.

Data showed that turnover in manufacturing increased 0.2 percent in January, in contrast to the 1.5 percent decrease in December.