New orders a ray of hope for German manufacturing
Orders for German industry rose by a surprisingly strong 3.6% in March, and even excluding large orders the increase was 3.2%.
Commerzbank Economic Research
05/07/2025
Finally some really good news for German industry: orders rose strongly by 3.6% in March compared to the previous month. This means that they rose even more strongly than had been expected (consensus: 1.3%; Commerzbank: 1.5%). It is true that such swings have been more frequent recently. But even if the large orders are excluded, the result is a significant increase of 3.2% (chart). According to the Federal Statistical Office, this increase was broadly based across many sectors of the economy. Broken down by region, orders from the eurozone in particular increased, but orders from third countries and Germany also rose.
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