Economic Buzz: German Factory Orders Decline In March

5 May 2022 , 02:48 PM

Germanys factory orders declined more-than-expected in March, reflecting the impact of the war in Ukraine on industrial activity. Factory orders posted a monthly fall of 4.7 percent in March, data released by Destatis showed Thursday. Excluding major orders, new orders in manufacturing declined 2.2 from February. The overall fall in demand was largely driven by the 6.7 percent contraction in foreign orders. Domestic orders logged a moderate decrease of 1.8 percent. Within foreign demand, orders from the non-euro area went down 13.2 percent, while that from the euro area grew 5.6 percent. Among major segments, orders for capital goods recorded an 8.3 percent fall and that for intermediate goods decreased 1.5 percent. On the other hand, consumer goods demand grew 6.4 percent. On a yearly basis, new orders slid 3.1 percent, in contrast to the 4.3 percent increase seen in February. Data showed that real turnover in manufacturing decreased 5.9 percent on month in March, following a 2.2 percent decrease in February.Powered by Commodity Insights