Manufacturing sector remains sluggish
According to the German Federal Statistical Office, the business climate in the manufacturing sector has deteriorated since the beginning of the year, and it is likely that industrial activity will continue subdued. The construction sector, on the other hand, is enjoying an upswing.24 Jun. 2019 Barbara Rusch
Manufacturing sector production fell by 1.9% in April compared to the previous month. Industrial production fell by 2.5%, while construction sector production rose by 0.2%. Manufacturing sector production fell by 0.3% in a two-month comparison : March/April vs. January/February. Construction activity increased (+1.9%), while industrial activity decreased (-0.6%). The automotive industry reported a production decline of 1.9%.
Incoming orders in the manufacturing sector have slowed since the turn of the year. Domestic orders decreased by 0.8% in April, while orders from the euro zone fell by 5.8%. Orders from the non-euro zone nonetheless rose by 5.7%. The proportion of major orders was below average for April. Disregarding major orders, 2.1% more orders were reported. Incoming manufacturing orders fell by 1.1% in a two-month comparison : March/April vs. January/February. Overall, orders have stabilized at a low level in the last two months as foreign demand has picked up. Orders in April were about 5% below the average monthly figure for 2018.
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