German manufacturing recovers with 3.9% order rise in Aug 2023

The less volatile three-month on three-month comparison showed that new orders were 4.9 per cent higher in the period from June–August 2023 than in the previous three months. New orders excluding large-scale orders were also up 3.9 per cent in August 2023 compared with the previous month, according to provisional figures of the Federal Statistical Office (Destatis).

In August 2023, new orders were up on the previous month both in the intermediate goods sector and in the area of consumer goods at 9.3 per cent and 8.8 per cent, respectively.

Foreign orders were up 3.9 per cent, with new orders from the euro area and the rest of the world increasing by 3.9 per cent. Domestic orders rose by 4.0 per cent.

Real turnover in manufacturing (seasonally and calendar adjusted) in August 2023 was up 0.4 per cent on the previous month. The calendar adjusted turnover was also 0.4 per cent higher than in August 2022. After revision of the provisional data, there was a decrease of 0.9 per cent in July 2023 from June 2023; the provisional figure was at -1.0 per cent.

ALCHEMPro News Desk (NB)