German manufacturing orders drop in Oct. ’24

German manufacturing new orders fell by 1.5 per cent month-on-month in October 2024 after seasonal and calendar adjustments, according to provisional data released on Thursday.

Excluding large-scale orders, new orders were up 0.1 per cent from the previous month. On a three-month comparison from August to October 2024, total new orders increased by 2.7 per cent, while new orders excluding large-scale ones dropped by 0.7 per cent.

September 2024 saw a revised 7.2 per cent increase in new orders compared to August, up from the provisional 4.2 per cent figure, driven by a late-reported large-scale shipbuilding order.

October’s overall decline was influenced by a drop in equipment manufacturing and the automotive industry. However, increases in basic metals and computers, electronics, and optical products helped balance the results.

New orders for intermediate goods rose by 0.9 per cent, and consumer goods saw a 4.2 per cent increase. In contrast, the capital goods sector experienced a 3.6 per cent decline.

Domestic orders fell by 5.3 per cent, while foreign orders rose slightly by 0.8 per cent. Orders from the euro area dropped by 7.6 per cent, but orders from outside the euro area increased by 6.3 per cent.

Attribution: Destatis

Subediting: M. S. Salama