Germany’s manufacturing sector saw a decline in new orders by 0.4% in March 2024, with a 4.3% decrease in the past three months. Foreign orders increased by 2%, fueled by a 10.6% rise from the euro area, while domestic orders fell by 3.6%. Manufacturing turnover also dropped by 0.7% month-on-month.
Germany’s manufacturing sector saw a slight decrease in new orders by 0.4% in March 2024 after adjustments. This followed a revised 0.8% decrease in February, initially reported as a 0.2% increase. Excluding large orders, there was a small 0.1% increase in March compared to February. The data comes from the Federal Statistical Office (Destatis).
In the first quarter of 2024, there was a 4.3% decrease in new orders in Germany compared to the previous three months, according to Destatis. Intermediate goods orders decreased by 0.4%, while consumer goods orders rose by 0.7%. Foreign orders increased by 2%, driven by a 10.6% rise in euro area orders, while non-euro area orders fell by 2.9%. Domestic orders In Germany saw a sharp decline of 3.6%.
In March 2024, manufacturing turnover decreased by 0.7% from the previous month and 3.9% compared to March 2023 when adjusted for the calendar. February 2024 saw a positive revision with turnover increasing by 1.1% over January, revised from an initially reported increase of 2.2%.
