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German industry showed unexpectedly weak results in April

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Statisticians in Germany recorded a decrease in the monthly index of orders in the industry at the level of 0.2 percent. Economists attribute this to weak domestic demand.

German industry showed unexpectedly weak results in April

German industry received significantly fewer orders than expected in April against the background of weakening domestic demand. Compared to March, the corresponding figure fell by 0.2 percent, the Ministry of Economy of the Federal Republic of Germany said on Monday, June 7. Economists polled by Reuters were expecting a 1.0 percent gain after gaining three straight months.

In March, the number of orders in the industry of Germany increased, according to the adjusted data, by 3.9 percent, and not by 3 percent, as previously reported. Compared to February 2020, when Germany began to impose restrictive measures amid the coronavirus pandemic, the number of orders in April 2021 increased by 9.9 percent, and compared to April 2020, the first month of lockdown, by 78.9 percent.

Inside Germany, the number of orders in the industry in April fell on a monthly basis by 4.3 percent. At the same time, the number of overseas orders increased by 2.7 percent, of which 0.7 percent came from orders in the eurozone and 3.8 percent from the rest of the world.

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