2024-10-07 23:54:59
Orders to industrial producers in Germany fell sharply in August. Their decline exceeded analysts’ expectations and adds to arguments that German industry will not recover in the coming months, Reuters reported, quoted by BTA
New orders to the industrial sector in Germany fell by 5.8 percent in August on a monthly basis, the latest seasonally and calendar-adjusted data from the Federal Statistical Office Destatis show.
A Reuters poll of analysts had predicted a more modest decline of 2 percent.
One of the reasons for the reported sharp decline is the large-scale orders for transport equipment made in the previous month for planes, ships, trains and military vehicles.
Excluding large-scale orders, new orders in August were 3.4 percent lower than in July.
“Destatis” revised the data on new industrial orders in July, and now the growth has been increased to 3.9 percent compared to the previously announced increase of 2.9 percent.
For the quarter from June to August, new orders were 3.9 percent more than in the previous quarter.
However, the data points to weak demand for industrial production in the coming months.
On an annual basis in August, new industrial orders decreased by 3.9 percent.