New orders in German manufacturing down 4% in Sept over Aug figure

New orders fell by a calendar-adjusted 10.8 per cent in September this year compared with the same month last year. However, in spite of corona catch-up effects and the shortage of intermediate products, the volume of new orders in September last year was exceptionally high, Destatis said.

After revision of the provisional results, new orders decreased by 2 per cent in August this on July.

While domestic orders slightly increased by 0.5 per cent, foreign orders went down by 7 per cent in September this year on the previous month. New orders from the euro area decreased by 8 per cent and new orders from other countries fell by 6.3 per cent compared with August.

According to provisional figures, real turnover in manufacturing (seasonally- and calendar-adjusted) increased by 0.2 per cent in September compared with August this year. Compared with September last year, turnover was a calendar-adjusted 7.7 per cent higher.

Enterprises still have difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist due to the COVID-19 crisis.

Around two-thirds of the industrial enterprises surveyed complained about bottlenecks and problems in procuring intermediate products and raw materials in September this year, according to the ifo Institute for Economic Research.

ALCHEMPro News Desk (DS)