Press release No. 299 of 6 August 2024
New orders in manufacturing:
June 2024 (in real terms, provisional):
+3.9% on the previous month (seasonally and calendar adjusted)
-11.8% on the same month a year earlier (calendar adjusted)
May 2024 (in real terms, revised):
-1.7% on the previous month (seasonally and calendar adjusted)
-8.7% on the same month a year earlier (calendar adjusted)
WIESBADEN – Real (price adjusted) new orders in manufacturing were up 3.9% in June 2024 month on month after seasonal and calendar adjustment, according to provisional figures of the Federal Statistical Office (Destatis). Previously, new orders had declined for five months in a row. The less volatile three-month on three-month comparison showed that new orders were 1.4% lower in the 2nd quarter of 2024 than in the 1st quarter. When large-scale orders are excluded, new orders in June 2024 were up 3.3% on May 2024, and they were 1.4% higher in the 2nd quarter of 2024 than in the 1st quarter of 2024. After revision of the provisional data, new orders decreased by 1.7% (provisional figure: -1.6%) in May 2024 from a month earlier.
Marked increase of new orders in the automotive industry
The positive development of new orders in manufacturing in June 2024 was mainly attributable to the substantial increase seen in the automotive industry (+9.3% on the previous month, seasonally and calendar adjusted). Increases recorded in the “manufacture of fabricated metal products” sector (+9.8%) and the "manufacture of other transport equipment" sector (aircraft, ships, trains; +11.7%) also had a positive effect. By contrast, the decline in new orders in the “manufacture of computer, electronic and optical products” sector (-7.9%) had a negative impact on the overall result.
New orders in the capital goods sector were up 9.2% in June 2024 on a month earlier. Compared with the previous month, new orders were down in both the intermediate goods sector (-1.5%) and the consumer goods sector (-7.1%).
The rise in new orders in manufacturing was mainly attributable to new domestic orders, which were up 9.1%. Foreign orders increased only slightly by 0.4%, with orders from the non-euro area rising by 0.9% and orders from the euro area falling by 0.3%.
Turnover in June 2024 down 0.9% on the previous month
According to provisional figures, real turnover in manufacturing (seasonally and calendar adjusted) in June 2024 was down 0.9% on the previous month. The calendar adjusted turnover was 5.0% lower than in June 2023. After revision of the provisional data, there was a decrease of 0.3% in May 2024 from April 2024 (provisional figure: -0.7%).
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 due to 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 2021 is used as the basis of the index and set to 100 index points (2021 = 100). The X13 JDemetra+ method was used for calendar and seasonal adjustment.
For better readability, this press release uses a short form for the names of some economic branches which differs from the designations in the "Classification of Economic Activities (2008 edition)". An overview of these short forms (only in German) is provided on the "Industry, manufacturing" page on the website of the Federal Statistical Office.
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 www.dashboard-deutschland.de (only in German). 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.
