Germany's December Manufacturing Orders Down 1.9% Month-on-Month... Decline Greater Than Expected
[Asia Economy Reporter Jeon Jinyoung] Germany's manufacturing orders in December declined more sharply than market expectations.
According to Dow Jones on the 5th, the German Federal Statistical Office reported that Germany's manufacturing orders in December decreased by 1.9% month-on-month on a seasonally adjusted basis. This figure is a larger drop than the 0.8% decrease forecasted by experts. Compared to the same month last year, it increased by 6.4%.
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New orders in February rose by 2.6% compared to February before the impact of the COVID-19 shock affected the indicators. Domestic orders decreased by 0.9% from the previous month, while foreign orders fell by 2.6%.
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Although Germany's manufacturing orders showed weaker performance than expected, it appears to have had no significant impact on the euro. Germany's industrial production for December is scheduled to be announced on the 8th.
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