Germany November industrial orders -5.3% vs -0.5% m/m expected

  • Latest data released by Destatis - 6 January 2023
  • Prior +0.8%; revised to +0.6%

German manufacturing orders fell sharply in November, owing to a steep decline in foreign orders (-8.1%) while domestic orders (-1.1%) also fell. Looking at the report details, the drop largely stems from a decrease in capital goods (-8.5%) which can be explained by the development in the economic sectors of machine construction and other vehicle construction.

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