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 fell between October and November by 1.0%. [2] Domestic orders and orders from the non-eurozone increased by 2.4% and 2.3% respectively. The proportion of large-scale orders was roughly average. In contrast, orders from the eurozone dropped sharply by 11.6% after a strong rise of 7.4% in the previous month

In the two-month comparison of October/November versus August/September, orders declined by 0.3%. The manufacturers of intermediate goods and consumer goods recorded drops of 2.5% and 3.0% respectively. In contrast, orders for capital goods rose by 1.4%. While the volume of new domestic orders and orders from the non-eurozone in the manufacturing sector fell by 1.4% and 0.5% respectively, there was a 1.7% rise in orders from the eurozone.

In the October/November period, new manufacturing orders were around ½% above the average level in the third quarter. The high order level also suggests that the industrial sector is slightly picking up speed again, albeit at a restrained pace. The automotive/vehicle parts industry is making progress in resolving the WLTP problem; in November it registered again a significant rise in orders (+4.5%).

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[1] Press release by the Federal Statistical Office of 7 January 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).