Press release No. 424 of 6 October 2022
New orders in manufacturing:
August 2022 (in real terms, provisional):
-2.4% on the previous month (seasonally and calendar adjusted)
-4.1% on the same month a year earlier (calendar adjusted )
July 2022 (in real terms, revised):
+1.9% on the previous month (seasonally and calendar adjusted)
-11.0% on the same month a year earlier (calendar adjusted )
WIESBADEN – Real (price adjusted) new orders in manufacturing decreased by 2.4% on a seasonally and calendar adjusted basis in August 2022 compared with July 2022, according to provisional results of the Federal Statistical Office (Destatis). Excluding large-scale orders, there was an increase of 0.8%. Compared with August 2021, new orders fell by a calendar adjusted 4.1% in August 2022
After revision of the provisional results, new orders increased by 1.9% in July 2022 on June 2022 (provisional figure: -1.1%) and remained unchanged when large-scale orders were disregarded (provisional figure: -0.8%). The large revision of the result for July and the decline of new orders in August is related with large-scale orders in the aerospace sector that were reported late for reference month July 2022. The comparison of two-month periods (August and July 2022 with June and May 2022) shows that new orders rose slightly by 0.5% (excluding large-scale orders in these periods: +0.7%).
Domestic orders decreased by 3.4%. Foreign orders went down by 1.7% in August 2022 on the previous month. New orders from the euro area decreased 3.8%, and new orders from other countries fell slight by 0.4% compared with July 2022.
The producers of capital goods recorded a decrease of 2.4% in August 2022 on the month before. Producers of intermediate goods saw a fall in new orders of 4.2%. Regarding consumer goods, orders went up by 5.2%.
Turnover up 1.0% on the previous month
According to provisional figures, real turnover in manufacturing (seasonally and calendar adjusted) increased by 1.0% in August 2022 compared with July 2022. Compared with August 2021, turnover was a calendar adjusted 6.9% higher.
As regards July 2022, revision of the preliminary figures resulted in a decrease of 2.0% compared with June 2022 (provisional figure: -1.8%).
As in the months before, the volume of new orders was higher than the volume of turnover in August 2022. The excess demand is likely to be due to the continuing acute shortage of intermediate products. Enterprises still have difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the Covid-19 crisis. 62.0% of the industrial enterprises surveyed complained about bottlenecks and problems in procuring intermediate products and raw materials in August 2022, according to the ifo Institute for Economic Research. The Federal Statistical Office shows the relationship between material shortages and industrial activity in an analysis with continuously updated figures.
Methodological note:
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons with the previous month or previous quarter. These reflect short-term economic trends. A calendar adjusted comparison with the previous year is intended to offer a long-term comparison of levels and is independent of seasonal fluctuations.
The data on new orders and on turnover are based on the volume index of manufacturing, calendar and seasonally adjusted by means of the X13 JDemetra+ method.
New orders and turnover are covered and evaluated in accordance with the Classification of Economic Activities, 2008 edition (WZ 2008). New orders are covered only in selected branches of manufacturing.
Detailed data and long time series are available from the GENESIS-Online database: indices of new orders (42151-0004) and indices of new orders excluding large-scale orders (42151-0008) and turnover indices (42152-0004).
New orders in manufacturing form part of the Crisis monitor (www.destatis.de/krisenmonitor), by means of which the Federal Statistical Office compares the development of major short-term indicators in the Covid-19 crisis and the financial and economic crisis of 2008/2009. The data are also available on the Corona Statistics webpage (www.destatis.de/corona) and in the Dashboard Germany (www.dashboard-deutschland.de), together with other indicators which can be used to assess the economic consequences of the Covid-19 pandemic. The Dashboard Germany portal of the Federal Statistical Office combines up-to-date indicators of official statistics and indicators of other data providers on the topics of economy and finance as well as health and mobility.
