Unexpectedly strong decline in orders in German industry

Decline of 1.9 percent for German industry

At the end of 2020, German industry had a surprisingly strong setback in incoming orders. In December, the manufacturing industry received 1.9 percent fewer orders than in the previous month, the Federal Statistical Office announced. Analysts were surprised by the extent of the setback. On average, they had only expected a decline of 1.0 percent.

However, the order intake in November was stronger than previously known. The Federal Office revised the month-on-month increase from 2.3 to 2.7 percent. Year-on-year, orders rose 6.4 percent in December.