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 by 2.5% between May and June. [2] This was also due to orders from the non-eurozone, which grew by 8.6% in the light of particularly large orders. By contrast, domestic orders fell by 1.0%, while eurozone orders declined by 0.6%. Adjusted for large orders, the fall in orders amounted to 0.4% compared with the previous month.

The second quarter as a whole saw manufacturing orders down by 1.0% compared with the previous quarter after a decline of 4.2% in the first quarter. While the volume of domestic orders and orders from the eurozone dropped by 4.1% and 3.4% respectively, orders from the non-eurozone rose by 4.5%. Adjusted for large orders, the fall in orders in the second quarter amounted to 2.1%.

The decline in manufacturing orders was noticeably slower in the second quarter. Business climate indicators, however, suggest that the turning point in industry has not yet been reached.

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