The number of production orders in Germany plummeted in January

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In Germany, the number of industrial orders fell sharply in January, which was mainly due to a decrease in external demand. According to the Federal Statistical Office, the seasonally adjusted January figure dropped by 2.6% compared to December, showing the lowest level in the last 7 months. The index of orders, not taking into account large orders, in January showed a drop of 2.5%. Orders within the country decreased by 1.2%, orders from other countries decreased by 3.6%. Decrease in demand in the eurozone was at the level of 2.6%. The rate of orders from countries outside the euro area fell by 4.2%. The decline in orders for capital goods was at the level of 3.6%. Intermediate goods were ordered 1.1% less than in December. Consumer orders fell 1.4%. As compared with January 2018, the decrease in production orders in Germany was at the level of 3.9%.

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