Germany – Turnaround in orders?

Incoming orders in German manufacturing were slightly lower in April than in March.

people___profile_24_outline
Dr. Ralph Solveen

Commerzbank Economic Research

June 6 2024

However, this is primarily due to a decline of big ticket orders. By contrast, the more meaningful core figure excluding big ticket orders rose by 2.9%. Together with the more positive sentiment indicators, this gives hope that the downward trend that has persisted for more than two years is coming to an end.

Finally, a good figure for order intake of the German manufacturing industry: excluding bulk orders, which generally have no influence on the development of production in the coming months, industrial companies received 2.9% more orders in April than in March.

This certainly does not yet mark a clear turn for the better. After all, there have been occasional increases in this key indicator over the past two years, but in retrospect these have not changed the stable downward trend.

For full text see attached PDF-Version.