Germany's manufacturing sector sees 4.8% growth in Feb 2023

07 Apr '23

1 min read

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Insights

Germany's manufacturing sector saw a rise in real new orders of 4.8 per cent in February 2023 compared to January 2023.
However, on a calendar-adjusted basis, new orders were still 5.7 per cent lower than in February 2022.
The rise was mainly driven by domestic orders, which increased by 5.6 per cent, while foreign orders rose by 4.2 per cent.

Germany’s real (price adjusted) new orders in manufacturing rose by 4.8 per cent on a seasonally and calendar adjusted basis in February 2023 compared with January 2023. New orders in the manufacturing sector have risen for the third month in a row and are 7.3 per cent higher than in November 2022, as per the Federal Statistical Office (Destatis).

On a calendar adjusted basis, new orders were 5.7 per cent lower than in February 2022. Excluding large-scale orders, there was an increase of 1.2 per cent in February 2023, Destatis said in a press release.

Orders in the intermediate goods area in February 2023 rose only by 1.3 per cent compared with the previous month. New orders in the consumer goods sector increased by 1.9 per cent.

Domestic orders rose by 5.6 per cent on the previous month, foreign orders increased by 4.2 per cent. New orders from the euro area increased by 8.9 per cent, while orders from the rest of the world increased by 1.4 per cent.

After revision of the provisional results, new orders were 0.5 per cent higher in January 2023 than in December 2022 (provisional figure: 1.0 per cent).

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