Subdued start to year for German manufacturing

German industrial orders unexpectedly dropped in February, partly because companies got fewer major contracts, after bookings already plunged in January, suggesting manufacturers had a subdued start to 2015 in Europe’s largest economy.

Orders for goods made in Germany — a highly volatile indicator — decreased by 0.9% on the month, data from the Economy Ministry showed. A Reuters poll had forecast a 1.5% rise.

It was the first time since last summer that orders have slipped for two months running.