Workers at a plant stand for new orders in the manufacturing sector

© Monty Rakusen/cultura/Corbis

According to the Federal Statistical Office [1] , new manufacturing orders rose between August and September by 0.3%. [2] Whilst orders from Germany and the eurozone rose appreciably, by 2.8% and 2.4% respectively, orders from outside the eurozone dropped by 3.7%. The proportion of large orders was above average.

Taking the third quarter as a whole, orders fell by 1.0%. There was a slight decline in orders for consumer goods (-0.2%), and larger falls in orders for intermediate and capital goods (-1.6% and -0.8% respectively). While the volume of new domestic orders increased by1.0% in the third quarter, orders from the eurozone and the non-eurozone dropped by 3.1% and 2.0% respectively.

The development of orders in August and September suggests that, in the important sector of the automotive industry, the temporary backlog of type approvals due to the new WLTP test cycle is gradually easing. This development, coupled with ongoing extremely high levels of orders on the books, suggests that the forces for growth will again become predominant in the manufacturing sector in the fourth quarter.

----------------------------------------

[1] Press release by the Federal Statistical Office of 6 November 2018.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).