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Home->Fastener News->German manufacturing industry hit by weak euro zon...You are the 678967 visitors
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German manufacturing industry hit by weak euro zone trade

Price-adjusted new orders in November 2018 for Germany's manufacturing industry have decreased 1.0 percent on the previous month, the Federal Statistical Office (Destatis) announced on Monday.

New orders from the euro area were hit particularly hard and went down by 11.6 percent while new orders from other countries even increased by 2.3 percent compared to October 2018.

The German industry has "suffered another setback in orders" in November, Michael Groemling from the German Economic Institute (IW) told Xinhua on Monday. "Orders from the euro zone, in particular, collapsed after the strong rise in the previous month. This means that the prospects for German industry remain subdued."

Although German domestic orders increased by 2.4 percent, total orders from other countries decreased by 3.2 percent in November 2018, according to the provisional data.

The manufacturers of capital equipment, "the real big machinery" as a Destatis spokesman explains, showed increases of 1.4 percent in new orders on the previous month. Intermediate goods for the German industry saw orders fall by 4.4 percent and consumer goods recorded a decrease of 3.2 percent.

The price-adjusted turnover in German manufacturing also went down and was 2.4 percent below the previous month. In October 2018, the corrected figure showed an increase of 0.5 percent to September 2018.

However, IW economist Groemling pointed out that "there are no signs of a clear downward or upward trend".

Source: Xinhua

2019/1/9 17:31:00

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