Press release No. 381 of 7 October 2024 New orders in manufacturing in August 2024: -5.8% on the previous month

Press release No. 381 of 7 October 2024

New orders in manufacturing:
August 2024 (in real terms, revised):
-5.8% on the previous month (seasonally and calendar adjusted)
-3.9% on the same month a year earlier (calendar adjusted)

July 2024 (in real terms, revised):
+3.9% on the previous month (seasonally and calendar adjusted)
+4.6% on the same month a year earlier (calendar adjusted)

WIESBADEN- Real (price adjusted) new orders in manufacturing were down 5.8% in August 2024 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 2024 increased by 3.9% compared with June 2024 because of the considerable volume of orders reported late by establishments (provisional figure: +2.9%). The less volatile three-month on three-month comparison showed that new orders were 3.9% higher in the period from June 2024 to August 2024 than in the previous three months.

One of the reasons for the negative development of new orders in August 2024 were the very large orders for other transport equipment (manufacture of aircraft, ships, trains, military vehicles) placed in the previous month. When large-scale orders are excluded, new orders in August 2024 were only 3.4% lower than in July 2024. A three-month on three-month comparison showed that new orders excluding large-scale orders were 0.7% higher in the period from June 2024 to August 2024 than in the three months before.

Compared with the previous month, new orders in the capital and intermediate goods sectors were down 8.6% and 2.2%, respectively, and new orders for consumer goods declined by 0.9%.

Positive contributions in August 2024 mainly came from the non-euro area. New foreign orders from outside the euro area increased by 3.4%, whereas orders from the euro area dropped by 10.5%. Total new orders from the rest of the world declined by 2.2%. Domestic orders fell by 10.9%.

Turnover in August 2024 up 3.2% on the previous month

According to provisional figures, real turnover in manufacturing (seasonally and calendar adjusted) in August 2024 was up 3.2% on the previous month. Compared with August 2023, the calendar adjusted turnover was down 3.1%. After revision of the provisional data, there was a decrease of 2.5% in July 2024 from June 2024 (provisional figure: -2.3%).

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, the labour market, construction, housing, energy and Ukraine. The portal also contains the Economic Pulse Monitor tool (Pulsmesser für die Wirtschaft) (only in German) for real-time economic monitoring.

Important information regarding the GENESIS-Online database:

Our database's new user interface will leave the beta phase and go online in the second half of October 2024. The new interface will offer faster data retrieval and intuitive table search and customisation options. There will also be changes to the structure of the machine-readable flat file (CSV) format and the data output format for table downloads. For further details and other important information on the release, please see the info page of the new GENESIS-Online database.

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