Home / World Economy / World Economy News / German Manufacturing Orders Rebound in May as Lockdown Eases

German Manufacturing Orders Rebound in May as Lockdown Eases

German manufacturing orders rebounded on month in May, federal statistics office Destatis said Monday.

Manufacturing orders increased 10.4% in May in adjusted terms after a downwardly revised 26.2% decline in April, according to Destatis. Economists polled by The Wall Street Journal had expected orders to grow at a higher rate of 15% from the previous month.

On an annual basis, orders fell 29.3%, adjusted for calendar and price effects.

Despite the improvement, new orders in May were 30.8% lower in seasonally and calendar adjusted terms compared with February, the month before restrictions were imposed due to the coronavirus pandemic in Germany.

Domestic orders jumped 12.3% while foreign orders grew 8.8% in May, Destatis said.

Due to the coronavirus crisis, factory orders and industrial output had in April seen their largest declines since the beginning of the series in January 1991.

German industrial production data for May is due to be published on Tuesday.
Source: Dow Jones

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping