March growth in industrial orders in Germany did not reach forecasts

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According to the preliminary data of Destatis, the volume of production orders in Germany increased by 0.6% in March compared to February, when the decline was recorded at 4%. March growth did not reach the forecasts of experts at 1.5% and became the weakest over the past 5 months. The indicator, which does not take into account large industrial orders, decreased by 1.9% compared to the previous month. Orders in the domestic market showed a decline of 4.2%, while external demand rose by 4.2%. Growth in orders from the eurozone countries was 8.6%, while other countries increased orders by 1.4%. The demand for means of production increased by 1.1%, for consumer goods - by 6.4%. At the same time, the demand for intermediate goods decreased by 1.5%. Compared with March of last year, the volume of industrial orders decreased by 6%. The rate of decline slowed down after the February drop by 8.1%.

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