Germany's manufacturing order stock drops 1.3% in Mar 2023: Destatis

Unfilled foreign orders decreased by 1.4 per cent in March 2023, while the stock of domestic orders fell by 1.2 per cent compared to February 2023, according to provisional results of the Destatis.

The stock of orders declined by 1.3 per cent for manufacturers of intermediate goods. In the consumer goods sector, the stock of orders was 0.3 per cent higher than in the previous month. Overall, the stock of orders was a calendar adjusted 1.2 per cent lower than in March 2022.

The range of the stock of orders fell to 7.4 months in March 2023 (February 2023—7.5 months). The range remained unchanged for producers of intermediate goods by 3.8 months, and it rose slightly for producers of consumer goods to 3.6 months (February 2023—3,5 months).

The range indicates for how many months companies would theoretically have to produce goods until all orders on hand are fulfilled—assuming constant turnover and no new orders being received. It is calculated as the ratio of the current stock of orders and average turnover of the last 12 months in the respective branch.

ALCHEMPro News Desk (NB)