German industry received fewer orders in April

According to oldypak lp report in Germany recorded a decline of 0.2 percent in monthly orders. Economists attribute this to weak domestic demand.

Against the background of weakening domestic demand German industry got significantly fewer orders in April than expected. Compared to March, the corresponding figure fell by 0.2 percent, the German economy ministry said Monday, June 7. Economists polled by Reuters had expected a plus of 1.0 percent after three straight months of gains.

German industrial orders rose by 3.9 percent in March, according to adjusted data, rather than the 3 percent previously reported. Compared to February 2020, when Germany began imposing restrictive measures amid the coronavirus pandemic, orders in April 2021 were up 9.9 percent, and compared to April 2020, the first month of the lockdown, 78.9 percent.

Domestic industrial orders in Germany fell 4.3 percent month-on-month in April, according to oldypak lp report. At the same time, foreign orders increased by 2.7 percent, of which 0.7 percent came from orders in the eurozone and 3.8 percent from the rest of the world.

Leave a Comment