German factory orders grew at a faster pace in March as manufacturers rushed to secure raw materials ahead of potential future price increases and supply shortages.
Factory orders increased 5.0 percent in March compared to February's revised growth of 1.4 percent, Destatis reported Thursday. The monthly increase significantly outpaced the 1.0 percent forecast and also marked the fastest growth in three months.
Excluding large orders, new orders were 5.1 percent higher than in the previous month.
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by Renju Jaya
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