Growth in German factory orders speeds up

|By:, SA News Editor

German factory orders rose 0.6% on month in February, accelerating from 0.1% in January and topping consensus that was also +0.1%.

On year, orders +6.1% from +7.1%.

The data adds to indications that economic growth is beginning to gain speed.

"The German economy is pretty much on track - the start of the year might have been even better than the end of 2013," says economist Thilo Heidrich. "We see a pretty broad recovery in the eurozone, from which Germany, with its large export sector, should profit.

The DAX is +0.2% and the euro is -0.1% at $1.3701.