New orders in German manufacturing fell 4% in September from August. | So Good News
New orders fell a calendar-adjusted 10.8 percent in September this year compared to the same month last year. However, Destatis said the volume of new orders was exceptionally high in September last year despite the effects of the corona crisis and a shortage of intermediate products.
New orders fell 2 percent in August after provisional results were revised up.
According to provisional data of the Federal Statistical Office (Dstatis), seasonally in September this year. On a calendar-adjusted basis, price-adjusted real new orders in German manufacturing fell 4 percent. Excluding large-scale orders, the government agency said in a note that it was down 3.9 percent.
Domestic orders increased slightly by 0.5 percent, but foreign orders fell 7 percent in September this year from the previous month. New orders from the euro area fell 8 percent, while new orders from other countries fell 6.3 percent compared to August.
Provisional figures showed manufacturing output (seasonally and calendar-adjusted) rose 0.2 percent in September compared to August this year. The calendar-adjusted volume was 7.7 percent higher than in September last year.
With supply chains disrupted by the war in Ukraine and distortions by the COVID-19 crisis continuing, businesses continue to struggle to fulfill their orders.
About two-thirds of industries surveyed complained about bottlenecks and problems in purchasing intermediate products and raw materials in September this year, according to the ifo Institute for Economic Research.
Fibre2Fashion News Desk (DS)