New manufacturing orders in Germany down 5.4%, worse than expected
Manufacturing industry in Germany continues to shrink, dropping month-on-month for the 2nd straight month
By Mucahithan Avcioglu
ISTANBUL (AA) - Real new orders in manufacturing in Germany fell 5.4% month-on-month in November, below the market forecast of a 0.3% fall, according to official data released Wednesday.
In the month of October, manufacturing activity in the country was down 1.5% month-on-month, but up 5.7% annually.
In November, on the other hand, real new orders dropped both monthly and annually, 5.4% and 1.7% respectively.
The negative trend in manufacturing in November was primarily due to sizable large-scale orders for other transport equipment (aircraft, ships, trains, military vehicles) received in the previous month.
"This high volume of large-scale orders was not repeated in November 2024. Therefore, new orders in this sector in November 2024 were 58.4% lower than in the previous month, on a seasonally and calendar adjusted basis,” an official report said.
"New orders received in the other branches of manufacturing had a comparatively small impact on the overall result."
The manufacture of machinery (up 1.2%) and the chemical industry (up 1.7%) saw slight increases compared with the previous month, while new orders fell slightly in the manufacture of basic metals (-1.2%) and showed a somewhat larger decline in the less important pharmaceutical industry (-7.2%).
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