Press release No. 395 of 6 October 2023
New orders in manufacturing:
August 2023 (in real terms, provisional):
+3.9% on the previous month (seasonally and calendar adjusted)
-4.2% on the same month a year earlier (calendar adjusted)
July 2023 (in real terms, revised):
-11.3% on the previous month (seasonally and calendar adjusted)
-10.1% on the same month a year earlier (calendar adjusted)
WIESBADEN – Real (price adjusted) new orders in manufacturing were up 3.9% in August 2023 month on month after seasonal and calendar adjustment, according to provisional figures of the Federal Statistical Office (Destatis). After revision of the provisional results, new orders in July 2023 decreased by 11.3% compared with June 2023 (provisional figure: -11.7%). The less volatile three-month on three-month comparison showed that new orders were 4.9% higher in the period from June to August 2023 than in the previous three months. New orders excluding large-scale orders were also up 3.9% in August 2023 compared with the previous month.
Much of the sharp increase in new orders in August 2023 was due to the performance of the “manufacture of computer, electronic and optical products” sector (+37.9% on the previous month after seasonal and calendar adjustment). The manufacture of electronic components was largely responsible for the increase, with order growth recorded for both domestic and foreign orders. Increases in new orders observed for the manufacture of electrical equipment (+8.7%) and in the pharmaceutical industry (+4.0%) also had a positive impact on overall performance. Declining orders in the automotive industry (-0.7%), by contrast, had a slightly negative effect.
In August 2023, new orders were up on the previous month both in the intermediate goods sector and in the area of consumer goods (+9.3% and +8.8%, respectively). There was a 0.1% increase in the capital goods sector.
Foreign orders were up 3.9%, with new orders from the euro area and the rest of the world increasing by 3.9%. Domestic orders rose by 4.0%.
Turnover in August 2023 up 0.4% on the previous month
According to provisional figures, real turnover in manufacturing (seasonally and calendar adjusted) in August 2023 was up 0.4% on the previous month. The calendar adjusted turnover was also 0.4% higher than in August 2022. After revision of the provisional data, there was a decrease of 0.9% in July 2023 from June 2023 (provisional figure: -1.0%).
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 or quarter. 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, quarter-on-quarter and year-on-year comparisons may differ considerably because of the Covid-19 crisis and the war in Ukraine.
New orders and turnover in manufacturing are recorded and evaluated in accordance with the Classification of Economic Activities, 2008 edition (WZ 2008). Information on new orders is collected only in selected branches (only in German) of manufacturing. The rates of change are based on the price adjusted indices of new orders and of turnover 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 manufacture of basic pharmaceutical products and pharmaceutical preparations (Division 21 of WZ) is referred to as the “pharmaceutical industry” in this press release. The manufacture of motor vehicles, trailers and semi-trailers (Division 29 of WZ) is referred to as the “automotive industry” in this press release.
More information:
Detailed data and long time series are available in the GENESIS-Online database (42151-0004 indices of new orders, 42151-0008 indices of new orders excluding large-scale orders, and 42152-0004 turnover indices).
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.
Information on new orders in manufacturing is also available on Dashboard Germany at www.dashboard-deutschland.de (in German only). This data portal of the Federal Statistical Office combines up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, health and mobility. The portal also contains the Economic Pulse Monitor tool (Pulsmesser für die Wirtschaft) (only in German) for real-time economic monitoring.
