{"id":35350,"date":"2023-05-05T06:27:10","date_gmt":"2023-05-05T06:27:10","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/german-industrial-orders-fall\/"},"modified":"2023-05-05T06:30:08","modified_gmt":"2023-05-05T06:30:08","slug":"german-industrial-orders-slump","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/german-industrial-orders-slump\/","title":{"rendered":"German industrial orders slump unexpectedly in March"},"content":{"rendered":"<p>(Reuters) -German industrial orders fell significantly more than expected in March, decreasing by 10.7% from the previous month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday.<\/p>\n<p>A Reuters poll of analysts had pointed to a 2.2% decrease.<\/p>\n<p>It marks the largest month-on-month decline since 2020 at the height of the COVID-19 pandemic.<\/p>\n<p>The vehicle construction sector had a particularly strong impact on the result, with incoming orders falling by 47.4% compared with the previous month. There was a large increase in orders in February that failed to materialise a month later, the office said.<\/p>\n<p>&#8220;After three increases in a row, new orders literally collapsed in March, thus resumed their downward trend,&#8221; Commerzbank&#8217;s chief economist Joerg Kraemer said.<\/p>\n<p>&#8220;Increasing risks for the export-oriented German industry come from the global interest rate hikes. In addition, the impetus from working off orders that had been stuck due to a lack of materials is waning,&#8221; Kraemer added.<\/p>\n<p>Foreign orders fell by 13.3% from the previous month while domestic orders decreased by 6.8%.<\/p>\n<p>The statistics office publishes more economic data on its website.<\/p>\n<p> (Reporting by Tristan Veyet in Gdansk; Editing by Friederike Heine and Toby Chopra)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/german-industrial-orders-fall\/file-photo-a-worker-at-german-manufacturer-of-silos-and\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ4404Q-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ4404Q-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -German industrial orders fell significantly more than expected in March, decreasing by 10.7% from the previous month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday. A Reuters poll of analysts had pointed to a 2.2% decrease. It marks the largest month-on-month decline since 2020 at the height of [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":35351,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-35350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ4404Q-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=35350"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35350\/revisions"}],"predecessor-version":[{"id":35358,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35350\/revisions\/35358"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/35351"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=35350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=35350"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=35350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}