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Main Indicator: Factory Orders m/m
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| -1.7% | 0.4% | -2.6% | -2.9% | ||
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For July (s.a.)
Factory Orders y/y: -0.7%, forecast -3.4%, pr. -6.0%(r-) (Jun), -2.5% (May) Manufacturing orders fell 1.7% in July, for the eighth straight monthly decline. Domestic demand was weak, with domestic orders falling 3.6. Foreign orders edged up 0.3%. Industrial output data tomorrow is looking bad, weighing on european economy as a whole. Germany is the European Union's main manufacturer and has faired better than other nation's sharing the euro currency. However, the downturn in demand and production in Germany will force ECB's governing council to heed the slowdown even though price stability alone is its mandate. The EUR plunged following the poor release, and ahead of the ECB interest rate decision. |
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Table of Past Data
| 12/6 | 1/8 | 2/7 | 3/6 | 4/4 | 5/7 | 6/5 | 7/4 | 8/6 | 9/4 | ||
| Actual | 4.0% | 3.4% | -1.7% | -1.5% | -0.5% | -0.6% | -1.8% | -0.9% | -2.9% | -1.7% | |
| Forecast | 0.9% | -1.6% | -1.8% | -0.3% | 0.8% | 0.3% | 0.3% | 0.8% | 0.4% | 0.4% | |
| Previous | -1.6% | 4.0% | 3.0% | -1.7% | -0.7% | -0.5% | -0.6% | -1.8% | -1.4% | -2.6% | |
| Revised From | -2.5% | N/A | 3.4% | N/A | -1.5% | N/A | N/A | N/A | -0.9% | -2.9% | |
Past Releases
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Actual | Forecast | Previous | Revised Form | |
| -2.9% | 0.4% | -1.4% | -0.9% | ||
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For June (s.a.)
Demand has slowed again in June, failing an expected rebound of 0.4%. The slack in foreign demand was apparent, as it dropped 5.1% on the month. Domestic demand fell 0.6%. The May figures had to be revised lower as well. Capital goods orders declined 4.4% reflecting a slowdown in investment. The 2nd and 3rd Quarter has seen a slight crack in the Eurozone economy widening. German factory orders has declined every month since February. As the leading industrial nation in Europe, Germany's economy is sometimes a proxy for the rest of the euro-zone economy. With continuously weaker numbers coming out, the market is seeing the "euro collapse" scenario with more likelihood. |
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Actual | Forecast | Previous | Revised Form | |
| -0.9% | 0.8% | -1.8% | N/A | ||
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For May (s.a.)
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Actual | Forecast | Previous | Revised Form | |
| -1.8% | 0.3% | -0.6% | N/A | ||
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For April (s.a.)
Factory Orders y/y: 15.0%, forecast 6.4%, pr. -5.0%
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Actual | Forecast | Previous | Revised Form | |
| -0.6% | 0.3% | -0.5% | N/A | ||
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For March (s.a.)
Factory Orders y/y: -5.0%, forecast 5.7%, pr. 9.0% (Feb), 8.9% (Jan)
German factory orders declined for a fourth month in March, dropping 0.6% on the month. Expectations had been for a slight rise. The annual figure for orders fell 5%, the first negative reading since March 2005. Orders for investment goods such as machines fell 2.3% on the month,
and 4.1% on the year, while demand for consumer goods declined 2.7% for
the month and 10% on the year. Exports are still expected to hold as Asian economies bolster orders.
Domestic demand is faltering as a result of inflation while foreign demand slacks because of a high euro. This factors are affecting all of Europe, as the retail sales data from the euro-zone showed today, adding pressure on the ECB as it tries to strike a hawkish stance on inflation. The global downturn that has claimed slower growth in other countries like the US, UK, and Canada is showing its signs in Germany, slowing the euro-zone's momentum. |
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Actual | Forecast | Previous | Revised Form | |
| -0.5% | 0.8% | -0.7% | -1.5% | ||
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For February (s.a.)
Factory Orders y/y: 9.0%, forecast 6.7%, pr 8.9% (rev from 9.5%) German manufacturing Orders declined 0.5% in February. The result surprised forecasts and showed that the euro's appreciation and the global slowdown are hurting exports. Last month orders were revised up to show a 0.7% decrease. Foreign orders were down 1.1% while domestic orders were unchanged. Exports and manufacturing are an important driver of German growth especially as recent data has shown consumers spending less as inflation continues to erode confidence. The report did not impact the Euro in the markets and it was gaining vs the Pound and Dollar as the session proceeded. |
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Actual | Forecast | Previous | Revised Form | |
| -1.5% | -0.3% | -1.7% | N/A | ||
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Seasonally adjusted for January
Factory Orders y/y: 9.5%, forecast 9.9%, pr. 6.2% (revised). Though factory orders fell on the month, the annual growth figure showed an increase to orders of 9.5%. |
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Actual | Forecast | Previous | Revised Form | |
| -1.7% | -1.8% | 3.0% | 3.4% | ||
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Seasonally adjusted for December.
Factory Orders y/y: 5.6%, forecast 12.0%, pr. 13.1% (Nov - revised), 14.1% (Oct - revised). December saw a reduction in orders for German manufacruting goods, reported the Ministry of Economics and Technology. Domestic orders fell 0.5%, while orders from abroad declined 2.8%. Demand for capital goods fell 2.7%, while manufacturers of consumer goods saw a decrease of 0.7%. |
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Actual | Forecast | Previous | Revised Form | |
| 3.4% | -1.6% | 4.0% | N/A | ||
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Seasonally adjusted for November. Factory Orders y/y: 13.6%, forecast 7.7%, pr. 14.1% (Oct - revised). German manufacturing orders rose a seasonally adjusted 3.4% in November, bucking economists' expectations of a decline. The Ministry of Economics reported that growing domestic demand (+4.2%) combined with continued strong foreign demand (+2.8%) helped fuel the gains. IN their statement officials said, "the outlook for a boost in industrial production have, in general, have got even better for the next months." Orders were led by producer (+4.3%) and capital goods (+3.6%), while consumer goods declined (-1.1%). This data should affect the Industrial Production data, set to be released tomorrow. |
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Actual | Forecast | Previous | Revised Form | |
| 4.0% | 0.9% | -1.6% | -2.5% | ||
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For October. Factory Orders n.s.a. y/y: 14.0%, forecast 6.2%, pr. 1.9%, (Rev from 1.1%) (Sept). |
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