Global shares were trading mixed Wednesday as Germany reported its factory orders surged in February, posting their third successive increase in another promising sign for Europe's biggest economy.
The German Economy Ministry said orders were up 4.8% compared with January, the biggest rise since mid-2021. That followed gains of 1.9% in December and 0.5% in January, and was supported primarily by stronger demand from Germany itself and other countries in the 20-nation eurozone.
"When it comes to two key drags on New Zealand's economy - slowing global demand and housing - the assessment was also far from alarming, as the statement mentioned tourism as an offsetting factor for declining export revenues and the fall in property prices being consistent with tighter monetary conditions," said Francesco Pesole, a strategist at ING.
Investors are still split on whether the U.S. economy is headed for a recession and how badly corporate profits might drop. The biggest question remains what the Federal Reserve will do next with interest rates after hiking them furiously over the last year to get high inflation under control.
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