German factory orders up strongly, add to promising signals

BERLIN (AP) — Official figures show that factory orders in Germany surged in February, posting their third successive increase in another promising sign for Europe’s biggest economy. The Economy Ministry said that orders were up 4.8% compared with January, the biggest rise since mid-2021. The figures came on top of data Tuesday that showed exports rising 4% on the month in February, while imports were up 4.6%. Germany’s economy has generally held up well, despite pressure from high inflation and fears last year of an energy crunch. A group of leading German economic research institutes followed other forecasters on Wednesday in raising their outlook for the economy this year.