German Manufacturing Orders Slow in April
The pace of new orders in Germany's manufacturing sector slowed dramatically in April. Data from the Economics Ministry show that this indicator rose only 4.9%.
Specific data showed that March manufacturing orders were 15.2% higher, as compared to the previous year, while February orders rose 17.2%. In April, manufacturing orders from abroad rose an 11.5%, a much better result that those from Germany.
The ministry was able to calculate a seasonally-adjusted estimate of orders growth on a three-monthly comparison. Results showed orders had risen 1.5% in the three-month period from February to April, as compared with the three months to January. The ministry said orders were up 11.8% on the year-earlier period.
Surprise Drop In UK manufacturingA decline in production of paper and electrical goods contributed to April's manufacturing output dropping slightly. The 0.2% surprise drop followed a 0.7% rise in March, when output was boosted by demand for electrical goods in the period prior to the World Cup. Output was up 0.5% as compared with the same time period from the previous year, although March's annual rate was revised upwards to 1.6%. Recent surveys by business groups have suggested that the manufacturing sector is recovering, with the latest study from the Engineering Employers' Federation (EEF) saying that output was at a 10-year high. The Office of National Statistics (ONS) which compiles the figures, said April saw the weakest monthly output for manufacturing and industrial production since October 2005.
