German Manufacturing Orders Had New Historic Plunge in April
June 05 2020 - 2:47AM
Dow Jones News
By Maria Martinez
German manufacturing orders declined sharply on month in April,
seeing its largest drop on record due to the coronavirus, federal
statistics office Destatis said Friday.
Manufacturing orders fell 25.8% in April in adjusted terms after
an upward revised 15.0% decline in March, according to Destatis.
Economists polled by The Wall Street Journal expected orders to
decline 19.1% from the previous month.
On an annual basis, orders fell 36.6%, adjusted for calendar and
price effects.
Domestic orders decreased 22.3% while foreign orders contracted
28.1% in April, Destatis said.
Due to the coronavirus crisis, manufacturing orders and
industrial output had in March seen their largest declines since
the beginning of the series in January 1991. April's manufacturing
orders saw a new record drop.
German industrial production data for March is due to be
published on Monday.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
June 05, 2020 02:32 ET (06:32 GMT)
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