Manufacturing order books in Germany saw an even sharper decline in March, with orders falling 17% year-on-year in real terms. Domestic orders fell 23% from a year ago, while foreign orders fell 15%. That being said, we need to put things into context a little. In March 2023, the German manufacturing industry recorded the highest number of orders of the entire year. This is therefore a relatively high basis for comparison.
VDMA notes that taking this into consideration, there could be a sign that the downward trend in manufacturing orders has bottomed out. But we’ll see. From January to March this year, orders are still down 13% compared to the same period last year.
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