• Prior -7.0%; revised to -5.5%

Slight delay in the release by the source. After some months of volatility owing to spikes in orders for the category of aircraft, ships, trains, military vehicles, there wasn’t much meaningful activity in German factory orders in February. Looking at the breakdown, there was a jump for orders for capital goods (+1.5%) but was offset by declines in orders for intermediate goods (-1.3%) and consumer goods (-5.2%).