German Factory Orders Growth Tops Expectations

Germany's factory orders growth exceeded expectations in January underpinned by robust foreign demand, data from Destatis revealed on Friday. Factory orders expanded 1.4 percent month-on-month in January, reversing a revised 2.2 percent fall in the previous month. Orders were forecast to climb 0.7 percent. Domestic orders dropped 2.6 percent, while foreign demand grew 4.2 percent in January.