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- German factory orders fell more than forecast in August
German factory orders fell more than forecast in August
Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had decreased in August 2019 a seasonally and calendar adjusted 0.6% on the previous month. Economists had expected a 0.3% decrease. For July 2019, revision of the preliminary outcome resulted in a decrease of 2.1% compared with June 2019 (provisional: -2.7%). Price-adjusted new orders without major orders in manufacturing had decreased in August 2019 a seasonally and calendar adjusted 0.3% on the previous month.
Domestic orders decreased by 2.6% and foreign orders increased by 0.9% in August 2019 on the previous month. New orders from the euro area were up 1.5%, new orders from other countries rose 0.4% compared to July 2019.
In August 2019 the manufacturers of intermediate goods saw new orders increase by 1.1% compared with July 2019. The manufacturers of capital goods showed decreases of 1.6% on the previous month. For consumer goods, a decrease in new orders of 0.9% was recorded.
The price-adjusted turnover in manufacturing in August 2019 was up a seasonally and calendar adjusted 1.3% on the previous month. For July 2019, the corrected figure showed a decrease of 1.2% to June 2019, (provisional: -0.9%).
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