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- German factory orders rose more than expected in January
German factory orders rose more than expected in January
According to provisional results of the Federal Statistical Office (Destatis), real (price adjusted) new orders increased by a seasonally and calendar adjusted 1.4% in January 2021 compared with December 2020. Economists had expected a 0.7% increase. Compared with January 2020, the increase in calendar adjusted new orders amounted to +2.5%. Excluding major orders, real new orders in manufacturing (seasonally and calendar adjusted) were 2.8% higher 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 January 2021 were 3.7% higher in seasonally and calendar adjusted terms.
Domestic orders decreased by 2.6% and foreign orders increased by 4.2% in January 2021 on the previous month. New orders from the euro area went up 3.9%, and new orders from other countries increased by 4.4% compared with December 2020.
In January 2021, the manufacturers of intermediate goods saw new orders increase by 0.2% compared with December 2020. The manufacturers of capital goods saw an increase of 3.3% on the previous month. Regarding consumer goods, new orders fell by 5.8%.
For December 2020, revision of the preliminary outcome resulted in a decrease of 2.2% compared with November 2020 (provisional: -1.9).
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