ZURICH (MaceNews) – Orders for Germany’s manufacturing sector unexpectedly declined in April as large-scale orders fell, according to the latest data from the Federal Statistics Office (Destatis) in Wiesbaden.
Factory orders fell 0.2 percent in April from the previous month, failing to meet expectations for a 1.0 percent increase according to the median of an Econoday survey of economists’ forecasts. Excluding large orders, the result is an increase of 1.5 percent, the office said.
Despite April’s decline, Destatis noted that orders are 9.9 percent above pre-pandemic levels of February 2020.
In March, orders rose a revised 3.9 percent (+3.0) versus the prior month
Orders by regions in April:
- Domestic orders -4.3% M/M
- Foreign orders +2.7% M/M
- Eurozone orders +0.7% M/M
- Rest-of-world +3.8%
Orders by sectors in April:
- Intermediate goods -1.0%
- Capital goods +0.2%
- Consumer goods +1.4%
Destatis will release industrial production for April tomorrow at 8:00am CET. Economists expect a month-on-month increase of 0.7 percent according to Econoday.
—
Separately, the ZEW institute will report May results for Economic Sentiment Tuesday at 11:00 am.
—
Content may appear first or exclusively on the Mace News premium service. For real-time delivery contact tony@macenews.com. Twitter headlines @macenewsmacro.