A few moments ago, the Federal Statistical Office published new orders for German industry (manufacturing) for the month of September. The German business press will probably interpret these figures as positive today. Because people like to look at the monthly comparison, i.e. the change from August to September. There is a seasonally adjusted plus of 1.3% (expected +0.1%). But in the important year-on-year comparison to September 2018, there is another dramatic decline of 5.4% in incoming orders! In August it was already a year-on-year decline of 6.5%. The industry will therefore also have to deal with significantly lower production volumes in the following months in a year-on-year comparison! Because now fewer orders means less actual production in several months.
Just on Friday we reported about new orders, which in May were -8.6% down compared to the previous year. Today the Federal Statistical Office is presenting figures for industrial production (production in the manufacturing sector) […]
A drastic forecast for the job market and economic performance has just been published. It offers a scenario of how severe the slump could be in 2020. The Institute for Employment Research (IAB) is a […]
How much will the German economy collapse as a result of the corona crisis? Only yesterday the ifo Institute gave a gloomy forecast for German industry (read here). And the economy as a whole? A […]