- Prior +7.8%; revised to +6.4%
When you exclude large orders, overall factory orders in Germany were just 0.4% lower than in December last year. Once again, it reflects the volatile swings in large orders mostly with December recording a major jump – its highest level since February 2022. The less volatile three-month comparison for new orders show a 1.5% increase overall instead, that is once you exclude large orders as well.
Looking at the details, the orders for the manufacture of metal products showed a 39.4% drop in January compared to December (which increased by 29.7%). So, that makes up for a large chunk of what we’re seeing with the headline figure.
Besides that, there were also declines in mechanical engineering (-13.5%) and in metal production and processing (-15.1%) – both of which are also attributable to the lower volume of large orders in January.
All of that is offset by increases in order intake in the automotive industry (+10.4%) and in other vehicle manufacturing (aircraft, ships, trains, military vehicles; +9.2%).
