New orders were down 5.3 per cent MoM in November 2022, reaching the lowest level since July 2020. A reduction of supply chain problems enables companies to complete orders easier. Despite the decrease, the stock of orders is still on a high level. Compared to November 2021, the stock of orders was up by a calendar adjusted 3.1 per cent, according to a press release by Destatis.
While the stock of domestic orders decreased by 0.6 per cent on October 2022, foreign orders fell by 1.6 per cent. The decline in the stock of orders is observed in all main industrial groupings in manufacturing. The stock of orders fell by 0.6 per cent for manufacturers of intermediate goods. In the consumer goods sector, the stock of orders was 0.3 per cent lower than in the previous month.
The range of the stock of orders fell to 7.3 months in November 2022 (October 2022: 7.6 months). The range was 3.7 months for intermediate goods (October 2022: also 3.7 months) and 3.4 months for consumer goods (October 2022: 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)
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