Germany's manufacturing turnover down 0.2% in October 2022: Destatis

Real (price adjusted) new orders in manufacturing increased by 0.8 per cent on a seasonally and calendar adjusted basis in October 2022 compared with September 2022. Excluding large-scale orders, there was a decrease of 1.2 per cent. Compared with October 2021, new orders fell by a calendar adjusted 3.2 per cent in October 2022.

After revision of the provisional results, new orders decreased by 2.9 per cent in September 2022 on August 2022 (provisional figure: minus 4 per cent), as per the report by Destatis.

While domestic orders decreased by 1.9 per cent, foreign orders went up by 2.5 per cent in October 2022 on the previous month. New orders from the euro area increased by 2.6 per cent, and new orders from other countries rose by 2.5 per cent compared with September 2022

The producers of capital goods recorded an increase of 3.2 per cent in October 2022 on the month before. On the other hand, producers of intermediate goods saw a fall in new orders of 1.4 per cent. Regarding consumer goods, orders went down particularly sharply by 6.3 per cent.

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. More than half of the industrial enterprises that have been surveyed complained about bottlenecks and problems in procuring intermediate products and raw materials in October 2022, according to the Ifo Institute for Economic Research.

Fibre2Fashion News Desk (DP)