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Investing.com -- German plant and equipment manufacturers experienced an unexpected rise in orders during February, according to the VDMA association.
This increase was primarily driven by robust domestic demand.
The overall orders in February rose by 8% in real terms compared to the same month last year. Contracts from Germany showed a significant jump of 11%, indicating a strong domestic demand despite the challenging environment.
Orders from foreign countries also saw an increase. Total (EPA:TTEF) foreign orders rose by 7%. Bookings from countries within the euro zone saw a rise of 4%. Meanwhile, contracts from nations outside the euro zone were up by 9%, as reported by the VDMA.
This data indicates a broader demand for German plant and equipment, extending beyond the domestic market.
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