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8 May, 2019 00:00 00 AM
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German industrial orders perk up in March

AFP, Berlin

German manufacturing firms reported a slight rebound in new orders in March, official data showed yesterday  thanks to increased demand from eurozone neighbours and more large contracts.

Used by experts as an weathervane for future industrial activity, the indicator added 0.6 percent in March after a 4.0-percent slide in February, federal statistics authority Destatis said.

But the bounce back fell short of expectations from analysts surveyed by Factset, who had bet on a 1.5-percent month-on-month rise.

What’s more, “without taking into account large contracts, new orders were 1.9 percent lower in March” when adjusted for price, seasonal and calendar effects — hinting at a continuing overall downward trend.

“Overall, the state of orders in manufacturing points to continuing subdued development in industry over the coming months,” the economy ministry in Berlin said in a separate statement.

 

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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