Development of new manufacturing orders in November 2020

According to the Federal Statistical Office [1], new manufacturing orders rose between October and November by 2.3%. [2] Demand for intermediate goods increased by 4.9%, whereas capital goods and consumer goods registered rises of 1.1% and 0.5% respectively. Excluding large-scale orders, new orders rose by 1.6%.

In the two-month comparison of October/November versus August/September, new manufacturing orders grew by 4.9%. Domestic orders and orders from the non-eurozone increased by 5.2% and 7.5% respectively, while demand from the eurozone rose by 0.3%.

In November, new orders continued their upward trend in spite of the partial lockdown. They surpassed the level of the fourth quarter of 2019 before the outbreak of the coronavirus pandemic by more than 6%. Whereas the two important areas of mechanical engineering and the automotive industry saw a somwhat weaker level of growth in new orders, this was offset by a substantial rise in the fields of other vehicle construction, IT and optical equipment, and chemical products.

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[1] Press release by the Federal Statistical Office of 7 January 2021.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).