German Manufacturing Orders Unexpectedly Declined in April Vs. March
|06/07/2021 | 12:30am|
By Maria Martinez
German manufacturing orders fell in April, federal statistics office Destatis said Monday, missing expectations for an increase.
Manufacturing orders declined 0.2% on month in April in adjusted terms after a revised 3.9% increase in March, according to Destatis.
Economists polled by The Wall Street Journal had expected April orders to grow 0.8% on month.
On an annual basis, orders rose 78.9%, adjusted for calendar and price effects, the statistics office said.
New orders in April were 9.9% higher in seasonally and calendar-adjusted terms compared with February 2020, the month before restrictions were first imposed in Germany because of the coronavirus pandemic.
In April, domestic orders decreased 4.3% on month, while foreign orders rose 2.7%, Destatis said.
The statistics office said new orders from the eurozone increased 0.7% and new orders from other countries rose by 3.8% on month.
German industrial production data for April is due to be published Tuesday.
Write to Maria Martinez at firstname.lastname@example.org
Corrections & Amplifications
This article was corrected at 0726 GMT to reflect German industrial production data for April is due to be published Tuesday. The original version incorrectly said March.
(END) Dow Jones Newswires