German factory orders decline for fourth straight month

6th Jun 2024 07:16

(Sharecast News) - Factory orders in Germany registered an unexpected fall in April, declining for the fourth month in a row despite predictions of a slight rebound.

New orders in manufacturing were down 0.2% over the previous month on a seasonal and calendar-adjusted basis, falling 1.6% on April 2023.

That follows a revised 0.8% fall in March (initial estimate: -0.4%) and compares with the consensus forecast for 0.3% growth.

The Federal Statistics Office said that there were much fewer large-scale orders during the month of April, which affected four branches of manufacturing: transport equipment (-15.4%), computer, electronic and optical products (-5.1%), electrical equipment (-4.1%) and machinery and equipment (-1.5%).

On bright spark was the automotive industry which saw new orders rise by 4.1% over the month.