EURO: German industrial orders unexpectedly drop in April
The German Industrial Orders came at -0.20% versus 0.60% increase expected and -0.80% is printed in the March month. Two years downward revision data is coming to an end, Now slowly recovered from the Bottom.
German industrial orders unexpectedly declined in April, marking the fourth consecutive month of decreases, due to a significantly smaller number of large-scale orders compared to the previous month, according to data from the federal statistics office on Thursday.
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New orders dropped by 0.2% month-on-month on a seasonally and calendar-adjusted basis, while economists polled by Reuters had anticipated a rise of 0.5%.
“The negative trend that has persisted since the beginning of the year is continuing, albeit at a much slower pace,” stated the economy ministry.
However, when excluding the often highly volatile large-scale orders, April orders actually increased by 2.9% month-on-month.
“Together with the more positive sentiment indicators, this gives hope that the downward trend that has persisted for more than two years is coming to an end,” noted Commerzbank economist Ralph Solveen.
The ministry also mentioned improved sentiment indicators, which should contribute to a trend reversal in incoming orders.
EURO: German Factory Orders Unexpectedly Decline
German industrial orders unexpectedly fell by 0.20% in April, compared to an anticipated increase of 0.60% and following a revised decline of 0.80% in March. This marks the fourth consecutive month of decreases. However, analysts suggest that the two-year downward trend may be nearing its end, as the data shows signs of a gradual recovery from the bottom.
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Germany’s factory orders fell unexpectedly in April, largely due to a sharp contraction in orders for other transport equipment, as reported by Destatis on Thursday.
Factory orders decreased by 0.2 percent month-on-month in April, defying expectations for a 0.3 percent increase. However, this decline was slower than the revised 0.8 percent drop seen in March.
Excluding large-scale orders, new orders rose by 2.9 percent from the previous month.
A significant 15.4 percent decrease in orders for other transport equipment was observed. Additionally, orders for computer, electronics, and optical products fell by 5.1 percent, and orders for electrical equipment dropped by 4.1 percent.
Foreign orders decreased by 0.1 percent, with orders from the euro area falling by 1.4 percent, while orders from non-euro area countries grew by 0.6 percent. Domestic orders saw a decline of 0.3 percent.
On a yearly basis, the decline in new orders slowed to 1.6 percent from 2.4 percent in March.
Data also revealed that real turnover in manufacturing decreased by 0.9 percent on a monthly basis, following a revised 0.4 percent drop in the previous month.
EURO: German Factory Orders Fall for Fourth Consecutive Month
German industrial orders recorded an unexpected contraction of 0.20% in April, diverging significantly from the projected 0.60% increase and following a revised decline of 0.80% in March. This downturn extends the sequence of monthly decreases to a fourth consecutive period. Nonetheless, there are indications that the protracted two-year descent may be approaching its terminus, as recent data suggests a nascent, albeit tentative, recovery from the nadir.
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Factory orders in Germany registered an unexpected fall in April, marking the fourth consecutive month of decline despite predictions of a slight rebound.
New manufacturing orders were down 0.2% from the previous month on a seasonally and calendar-adjusted basis, and they fell 1.6% compared to April 2023.
This follows a revised 0.8% decline in March (initially estimated at -0.4%) and contrasts with the consensus forecast of 0.3% growth.
The Federal Statistics Office reported a significant reduction in large-scale orders during April, impacting four manufacturing sectors: transport equipment (-15.4%), computer, electronic and optical products (-5.1%), electrical equipment (-4.1%), and machinery and equipment (-1.5%).
One bright spot was the automotive industry, which saw new orders rise by 4.1% over the month.
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