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 April and May by 2.2%. [2] Domestic orders rose by 0.7% in May. The volume of orders from the eurozone shrank by 1.7%, whilst orders from the non-eurozone dropped by 5.7%.

In the two-month comparison of April/May against February/March, new orders in the manufacturing sector declined by 0.4%. The increase of 2.7% for consumer goods contrasted with falls of 1.8% and 0.1% for intermediate goods and capital goods respectively. Domestic orders and orders from the eurozone declined by 2.8% and 3.8% respectively. There was a 4.5% rise in orders from the non-eurozone.

New orders in the manufacturing sector again declined perceptibly in May, after they had stabilised at a low level in the last two months. In May, they were roughly 7% below their average monthly level in 2018. In the important automotive industry, domestic orders and orders from abroad declined by 1.6% and 5.0% respectively. It therefore seems likely that the industrial sector will remain sluggish in the coming months.

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[1] Press release by the Federal Statistical Office of 5 July 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).