German manufacturing jumps 2.9% YoY in Apr 2023

Real (price adjusted) new orders in German manufacturing fell by 0.4 per cent MoM on a seasonally and calendar adjusted basis in April 2023. In March 2023, new orders decreased by 10.9 per cent; provisional figure at -10.7 per cent, the Federal Statistical Office (Destatis) said in a press release.

Looking at the less volatile three-month-average, new orders were 2.3 per cent lower in the recent three-month period than they were the previous three months. Excluding large-scale orders, there was an increase of 1.4 per cent in April 2023 compared to the previous month.

Machinery and equipment manufacturing at -6.2 per cent compared to March 2023 on a seasonally and calendar adjusted basis among others had a particularly strong negative impact on the overall development of new orders.

While new orders in the consumer goods sector decreased by 2.5 per cent in April 2023 compared to the previous month, new orders in the intermediate goods sector increased by 2.3 per cent. Domestic orders rose by 1.6 per cent, while foreign orders sank by 1.8 per cent on the previous month. Here, new orders from the rest of the world fell by 1.1 per cent and orders from the euro area by 2.7 per cent.

Fibre2Fashion News Desk (NB)