Germany's manufacturing new orders fall 2.2% in February

By Ovunc Kutlu

ANKARA (AA) – Germany's new orders in manufacturing declined 2.2% in February from the previous month, the country's statistical office revealed on Wednesday.

The decrease is mainly due to orders abroad, Destatis said, adding foreign orders fell 3.3% in February on a monthly basis.

While new orders from the euro area declined 3.3%, new orders from the non-euro area went down 3.4%, it added.

"As in the preceding months, the total of the values reported for new orders in many branches of manufacturing in February 2022 was higher than total turnover," Destatis said in a statement.

"The excess demand is likely to be due to the continuing acute shortage of intermediate products ... As a result, many enterprises have problems filling new orders," it added.