Germany, industrial orders collapse: -10.7% in March
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Collapse of industrial orders in Germany, which recorded a -10.7% in March as reported by the data released by the Federal Statistical Office. This is the most significant negative figure since 2020, when the decline was linked to the Covid-19 pandemic.
In January and February, orders were even higher than in the previous month. In the first quarter there was a slight increase (0.2 percent) compared to the previous quarter. Particularly strong on the result was the construction of air and space vehicles, railway vehicles, ships and military vehicles, where orders decreased by 47.4% compared to the previous month .
Also there automotive production and automotive components (-12.2% compared to the previous month) had a strong impact on the result. According to the Federal Ministry of Economy, there were also fewer orders in the metal production and mechanical engineering sector. On the other hand, orders from pharmaceutical product manufacturers, among others, increased.
Excluding large-scale orders, March was down 7.7% from the previous month.
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