New orders in German manufacturing in June 2024 were +3.9% on the previous month (seasonally and calendar adjusted) and -11.8% on the same month a year earlier (calendar adjusted). The manufacturing orders were up 3.9% in June 2024 month on month after seasonal and calendar adjustment, according to provisional figures of the Federal Statistical Office (Destatis).
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Previously, new orders had declined for five months in a row. The less volatile three-month on three-month comparison showed that new orders were 1.4% lower in the 2nd quarter of 2024 than in the 1st quarter. When large-scale orders are excluded, new orders in June 2024 were up 3.3% on May 2024, and they were 1.4% higher in the 2nd quarter of 2024 than in the 1st quarter of 2024. After revision of the provisional data, new orders decreased by 1.7% (provisional figure: -1.6%) in May 2024 from a month earlier.
According to ifo, the order shortage in Germany has worsened and is a major obstacle for the economy. In July, 39.4% of companies reported a lack of orders, up from 38.4% in April. 'The lack of orders is weighing on economic development in Germany,' says Klaus Wohlrabe, Head of Surveys at ifo. 'Almost every industry is affected.'
More information:
Destasis
www.destatis.de
ifo
www.ifo.de