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 March and April by 0.3%, after expanding by 0.8% in March.[2] Industrial orders fell by 0.8% in April. The volume of orders from the eurozone shrank by 5.8%, whilst orders from the non-eurozone increased by 5.7%. The proportion of large-scale orders was below average for the month of April. Adjusted for large orders, there was a 2.1% rise in orders.

In the two-month comparison of March/April against January/February, output in the manufacturing sector declined by 1.1%. The increase of 4.3% for consumer goods contrasted with falls of 2.1% and 1.2% in intermediate goods and capital goods respectively. Domestic orders dropped by 5.7%. There were increases of 1.4% and 2.9% respectively in orders from the eurozone and the non-eurozone.

New orders in the manufacturing sector stabilised at a low level in the last two months, against a backdrop of rising foreign demand. In April, they were roughly 5% below their average monthly level in 2018. The industrial sector is likely to remain subdued in the second quarter.

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[1] Press release by the Federal Statistical Office of 6 June 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).