The economy German industry records a decline in incoming orders
German industrial companies have recorded a further setback in incoming orders. In November, orders in the manufacturing sector fell by 5.4 percent month-on-month, according to the Federal Statistical Office (Destatis) in Wiesbaden.
08.01.2025, 09:32
SDA
Although analysts had expected a decline, on average they had only anticipated a slight dip of 0.2 percent. However, large orders distorted the picture. Excluding large orders, orders would have been 0.2 percent higher month-on-month.
Overall, however, this is the second consecutive decline in incoming orders. In October, orders in industrial companies fell by 1.5%.
In a year-on-year comparison, the development in November was also significantly worse than expected. The Federal Office reported a decline of 1.7 percent, while analysts had expected an increase of 3.0 percent.
Despite the recent setbacks, a longer-term comparison of three months still shows an overall positive trend. In the period between September and November, incoming orders were 1.7 percent higher than in the previous three months, and 0.5 percent higher excluding major orders, according to the Federal Office.
"Not only a weak domestic economy, but also declining competitiveness is depressing orders in the manufacturing industry," said DIHK economic expert Jupp Zenzen according to the press release. Customers outside the EU in particular are holding back. "These are not good starting conditions for the new year."
