Germany's factory orders drop 5.7% in February

ISTANBUL

New manufacturing orders in Germany declined 5.7% on a yearly basis in February, according to official data released on Wednesday.

The turnover index was also down by 0.6% compared to February last year, data from the German federal statistical office Destatis showed.

On a monthly basis, factory orders and turnover climbed 4.8% and 1.5%, respectively, in February.

Domestic orders rose by 5.6% and foreign orders by 4.2% versus January.

In January, factory orders in Germany plunged by 12% on a yearly basis, Destatis reported.​​​​​​​