German manufacturing new orders rise 6.4% in May 2023: Destatis

Following a revision of April 2023’s provisional results, a marginal increase of 0.2 per cent in new orders was reported compared with March 2023. The revised figure corrected the initial estimate of a 0.4 per cent decline. Despite this adjustment, a less volatile three-month comparison showed that new orders from March to May were 6.1 per cent lower than in the preceding three months.

In May, new orders excluding large-scale orders were also up, showing an increase of 3.2 per cent compared with the previous month, as per Destatis.

New orders in the intermediate goods sector were slightly down, registering a 1.1 per cent decline compared to the previous month. Consumer goods orders also decreased by 0.8 per cent during the same period.

Domestic orders rose by 6.2 per cent, and foreign orders increased by 6.4 per cent. Within these foreign orders, those originating from the euro area showed a significant increase of 6.5 per cent, while orders from the rest of the world grew by 6.2 per cent.

In terms of turnover in manufacturing, provisional figures indicated a 2.7 per cent increase in May 2023 compared with the previous month, following seasonal and calendar adjustments. Following a revision of provisional data for April 2023, a minor decrease of 0.2 per cent was reported from March 2023. The calendar-adjusted turnover for May 2023 was 4 per cent higher than in May 2022, indicating a positive long-term trend.

Fibre2Fashion News Desk (DP)