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- German factory orders fell sharply in December
German factory orders fell sharply in December
According to provisional results of the Federal Statistical Office (Destatis), real (price adjusted) new orders decreased by a seasonally and calendar adjusted 1.9% in December 2020 compared with November 2020. Economists had expected a 1.0% decrease.
Compared with December 2019, the increase in calendar adjusted new orders amounted to +6.4%. Excluding major orders, real new orders in manufacturing (seasonally and calendar adjusted) were 2.0% lower than in the previous month.
Compared with February 2020, the month before restrictions were imposed due to the corona pandemic in Germany, new orders in December 2020 were 2.6% higher in seasonally and calendar adjusted terms.
Domestic orders decreased by 0.9% and foreign orders decreased by 2.6% in December 2020 on the previous month. New orders from the euro area went down 7.5%, and new orders from other countries increased by 0.5% compared with November 2020.
In December 2020, the manufacturers of intermediate goods saw new orders increase by 0.8% compared with November 2020. The manufacturers of capital goods saw a decrease of 4.6% on the previous month. Regarding consumer goods, new orders rose by 6.4%.
In 2020, new orders in the manufacturing sector were 7.2% lower in calendar-adjusted terms than in the previous year.
For November 2020, revision of the preliminary outcome resulted in an increase of 2.7% compared with October 2020 (provisional: +2.3%)
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