German Industrial Orders Fall More Than Forecast
(RTTNews) - Germany's industrial orders declined more than expected in January reflecting sharp decreases in orders for machinery and transport equipments.
Industrial orders fell 7.0 percent month-on-month in January, in contrast to the revised 5.9 percent rise in the previous month, data from Destatis showed on Friday. Economists had forecast a moderate 2.8 percent fall for January.
Excluding large-scale orders, new orders were down 2.7 percent from the previous month.
New orders in the manufacture of machinery and equipment plunged 10.7 percent and that of other transport equipment slid 17.6 percent.
Both domestic and foreign orders decreased in January. Domestic orders registered a double-digit fall of 13.2 percent month on month, while foreign orders slid only 2.3 percent.
With foreign orders, demand from the euro area decreased 2.5 percent and that from outside the euro area fell 2.3 percent.
On a yearly basis, overall industrial orders registered a decrease of 2.6 percent, following a sharp 6.9 percent fall in December. Real turnover in manufacturing gained 0.4 percent on the previous month, following a 0.5 percent rise in December. Compared with January 2024, turnover was down 0.9 percent.
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