German manufacturing sector's new orders drop 10.9% YoY in Jan 2023

08 Mar '23

2 min read

Pic: Shutterstock/ BY-_-BY

Germany’s real (price adjusted) new orders in manufacturing rose by 1.0 per cent on a seasonally and calendar adjusted basis in January 2023 compared with December 2022, as per the Federal Statistical Office (Destatis). Excluding large-scale orders, there was an increase of 2.9 per cent in January 2023. On a calendar adjusted basis, new orders were lower by 10.9 per cent year-on-year (YoY).

Domestic and foreign orders followed opposing trends in January 2023. While domestic orders dropped by 5.3 per cent on the previous month, foreign orders increased by 5.5 per cent. New orders from the euro area decreased by 2.9 per cent, while orders from the rest of the world increased by 11.2 per cent, Destatis said in a press release.

Orders in the intermediate goods sector decreased by 8.9 per cent compared with the previous month. New orders in the consumer goods sector declined by 5.5 per cent. After revision of the provisional results, new orders were 3.4 per cent higher in December 2022 than in November 2022 (provisional figure: 3.2 per cent).

According to provisional figures, real turnover in manufacturing (seasonally and calendar adjusted) increased by 0.2 per cent in January 2023 compared with December 2022. A revision of the provisional figures revealed a decrease of 1.5 per cent in December 2022 from November 2022 (provisional figure: -1.7 per cent). In January 2023, the calendar adjusted turnover was 0.4 per cent lower than in January 2022.

Fibre2Fashion News Desk (NB)

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