Development of new manufacturing orders in November 2021

According to the Federal Statistical Office , new manufacturing orders grew by 3.7% in November compared with the preceding month following a 5.8% decline in October. There was a substantial increase in orders of capital goods (+5.3%), whilst the manufacturers of intermediate and consumer goods reported rises of 1.2% and 3.8% respectively. Excluding large orders, order activity grew by 3.8%.

After two sharp declines in orders in August and October 2021, there was a clear recovery in new orders in November. This was due to strong demand from the eurozone (+13.1%) and the non-eurozone (+5.0%). In contrast, domestic orders declined (-2.5%). The important areas of automotive and mechanical engineering both expanded significantly (+7.0% and +2.0% respectively). This provides a positive stimulus for the economic outlook, although supply bottlenecks continue to have a dampening effect on the economic activity. Altogether, new manufacturing orders in November 2021 were 1.3% above the corresponding pre-year level.

----------------------------------------

[1] Press release by the Federal Statistical Office of 6 January 2022.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).