German Manufacturing Orders Fell More Than Expected in March

By Maria Martinez

German manufacturing orders plunged in March, mainly because of a drop in orders from abroad.

Manufacturing orders fell 4.7% on month in adjusted terms, after a revised 0.8% decline in February, according to data from federal statistics office Destatis released Thursday.

Economists polled by The Wall Street Journal had expected orders to decline by 0.5%.

Orders of capital goods recorded a decrease of 8.3% in March. Producers of intermediate goods saw new orders fall 1.5% on month. Consumer goods orders rose 6.4%, Destatis said.

Foreign orders in March decreased 6.7% on month. New orders from the eurozone rose 5.6% and new order from other countries decreased 13.2%. Domestic orders registered a decline of 1.8%.

Manufacturing orders fell 3.1% in March on an annual basis, the statistics office said.

German industrial production data for March is due to be published Friday.

Write to Maria Martinez at [e-mail]

(END) Dow Jones Newswires

05-05-22 0233ET