Press release No. 327 of 18 August 2023

Stock of orders in manufacturing, June 2023
+0.8%, in real terms, on the previous month (seasonally and calendar adjusted)
-3.1%, in real terms, on the same month a year earlier (calendar adjusted)

Range of the stock of orders
7.2 months

WIESBADEN – The real (price adjusted) stock of orders in manufacturing was up 0.8% in June 2023 month on month after seasonal and calendar adjustment, according to provisional figures of the Federal Statistical Office (Destatis). The calendar adjusted stock of orders was 3.1% lower in June 2023 than in June 2022.

 

The month-on-month increase in the stock of orders was primarily due to the positive development of unfilled orders in the manufacture of other transport equipment (+6.5% on the previous month after seasonal and calendar adjustment). The sharp increase in this sector is due to a large-scale order in the manufacture of air and spacecraft. By contrast, the automotive industry had a negative impact on overall performance. The stock of orders was down 4.9% in this sector.

Unfilled domestic orders in June 2023 were up 0.8% on May 2023 and the stock of foreign orders was up 0.9%.

The stock of orders increased by 1.1% in the capital goods sector and 0.8% in the area of consumer goods. In the intermediate goods sector, the stock of orders was down 0.7%.

Range of the stock of orders remained at 7.2 months

In June 2023, the range of the stock of orders was 7.2 months as in May 2023. The range remained unchanged for producers of capital goods (10.1 months), producers of intermediate goods (3.8 months) and producers of consumer goods (3.5 months).

Assuming turnover remains constant and no new orders are received, the range indicates the number of months local units would, in theory, have to produce goods in order to fill all orders on hand. It is calculated as the ratio between the current stock of orders and average turnover of the last twelve months in the respective branch.

Methodological notes:

The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons of seasonally and calendar adjusted figures with those of the previous month. These reflect short-term economic trends. Year-on-year comparisons of calendar adjusted results enable long-term comparisons of levels and are not influenced by seasonal fluctuations or calendar effects. The results of month-on-month and year-on-year comparisons may differ considerably because of the Covid-19 crisis and the war in Ukraine.

The stock of orders comprises all new orders received by the end of the reference month which have neither generated any turnover nor been cancelled by that time. The rates of change are based on the price adjusted index of new orders in manufacturing. The average figure for 2015 is used as the basis of the index and set to 100 index points (2015 = 100). The X13 JDemetra+ method was used for calendar and seasonal adjustment. The stock of orders is recorded and evaluated in accordance with the Classification of Economic Activities, 2008 edition (WZ 2008). In the process, information on the stock of orders and onnew orders is only collected in selected branches of manufacturing.

More information:

Detailed data are available from the GENESIS-Online database (42155-0004 indices of the stock of orders and 42113-0001 Ranges of the stock of orders).

A dossier on the "Short-term indicators" page of the Federal Statistical Office's website provides an analysis of the relationship between material shortages, new orders, production and prices in industry. Detailed information on production in energy-intensive industrial branches (only in German) is available on the "Industry, manufacturing" page.