Germany factory orders falls for 2nd consecutive month in March

ANKARA

German factory orders decreased for the second month in row in March, according to the country’s statistical office Destatis on Thursday.

New orders in manufacturing fell by 4.7% from February on account of weaker non-euro area demand, provisional data showed.

"The decrease of new orders in manufacturing is mainly due to orders abroad: foreign orders decreased by 6.7% in March on the previous month," it said.

New orders from the non-euro area went down by 13.2%, while it was up 5.6% for the euro area. Domestic orders also dropped 1.8% month-on-month in March.

The producers of capital goods declined 8.3% in the same period, suggesting reluctance to invest grows amid the Russian war on Ukraine.

On an annual basis, the March figure was also down by 3.1%.

ANKARA

German factory orders decreased for the second month in row in March, according to the country’s statistical office Destatis on Thursday.

New orders in manufacturing fell by 4.7% from February on account of weaker non-euro area demand, provisional data showed.

"The decrease of new orders in manufacturing is mainly due to orders abroad: foreign orders decreased by 6.7% in March on the previous month," it said.

New orders from the non-euro area went down by 13.2%, while it was up 5.6% for the euro area. Domestic orders also dropped 1.8% month-on-month in March.

The producers of capital goods declined 8.3% in the same period, suggesting reluctance to invest grows amid the Russian war on Ukraine.

On an annual basis, the March figure was also down by 3.1%.