Source: Monty Rakusen/cultura/Corbis

© Monty Rakusen/cultura/Corbis

According to the Federal Statistical Office [1], new manufacturing orders fell by 4.2% between January and February.[2] Domestic orders dropped by 1.6%. Foreign orders shrank by 6.0% compared to the previous month. The proportion of large orders was well below average. Adjusted for large orders, the fall in orders amounted to 2.7%.

In the two-month comparison of January/February versus November/December, orders declined by 3.7%. Domestic manufacturing orders dropped by 2.0%. There were falls of 1.3% and 7.0% respectively in orders from the eurozone and the non-eurozone.

February saw fewer orders, both from Germany and from abroad, in most sectors of the economy. In the coming months, therefore, the lack of foreign demand in particular is likely to result in a slow industrial sector.

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[1] Press release by the Federal Statistical Office of 4 April 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).