Press Manufacturing in February 2021: new orders up 1.2% on the previous month

New orders 5.6% over pre-crisis level

Press release No. 171 of 8 April 2021

February 2021 (provisional): new orders in manufacturing
+1.2% on the previous month (price, seasonally and calendar adjusted)
+5.6% on the same month a year earlier (price and calendar adjusted)

January 2021 (revised): new orders in manufacturing
+0.8% on the previous month (price, seasonally and calendar adjusted)
+1.4% on the same month a year earlier (price and calendar adjusted)

WIESBADEN – According to provisional results of the Federal Statistical Office (Destatis), real (price adjusted) new orders increased by a seasonally and calendar adjusted 1.2% in February 2021 compared with January 2021. Excluding major orders, real new orders in manufacturing were 1.5% higher than in the previous month.

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Compared with February 2020, which was the month before restrictions were imposed due to the corona pandemic in Germany, real new orders increased by a calendar adjusted 5.6% in February 2021.

Domestic orders increased by 4.0% and foreign orders decreased by 0.5% in February 2021 on the previous month. New orders from the euro area went up 2.7%, and new orders from other countries decreased by 2.3% compared with January 2021.

In February 2021, the manufacturers of intermediate goods saw new orders increase by 0.5% compared with January 2021. The manufacturers of capital goods saw an increase of 2.1% on the previous month. Regarding consumer goods, new orders fell by 1.9%.

For January 2021, the revision of the preliminary outcome and the annual update of the seasonal factors resulted in an increase of 0.8% compared with December 2020 (provisional: +1.4).

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Turnover -1.9% on the previous month

According to provisional figures, real turnover in manufacturing (seasonally and calendar adjusted) stood at -1.9% in February 2021, compared to the previous month. Compared with February 2020, the decrease in calendar adjusted turnover amounted to -5.6%. For January 2021, revision of the preliminary outcome and the annual update of the seasonal factors resulted in a decrease of 1.2% compared with December 2020 (provisional: -1.1%).

Methodological notes
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons with the previous month or previous quarter. These reflect short-term economic trends. A comparison with the previous year is intended to offer a long-term comparison of levels and is not subject to seasonal fluctuations. Due to strong temporary decreases and increases during the current coronavirus crisis, the results of month-on-month/quarter-on-quarter and year-on-year comparisons may differ considerably. Both of the two perspectives are important: what is the short-term economic trend compared with the previous month/previous quarter, and how far has the catching-up process gone compared with the previous year’s level? In order to provide also a direct comparison with the pre-crisis level, all press releases on short-term indicators available in seasonally adjusted form will, for the time being, include a comparison with February 2020 or the 4th quarter of 2019.

The data on new orders and turnover are based on the volume index of manufacturing, seasonally and calendar adjusted by means of X13 JDemetra+. (The underlying mathematical-statistical method is not fundamentally different from the previously applied method X-12-ARIMA.)

New orders and turnover are covered and evaluated in accordance with the Classification of Economic Activities, 2008 edition (WZ 2008). New orders are covered only in selected economic branches of manufacturing.

Detailed data and long time series are available from the GENESIS-Online database (42151-0004: indices of new orders; 42151-0008: indices of new orders excluding major orders; 42152-0004: turnover indices).

Crisis Monitor enables comparison between corona crisis and financial/economic crisis
The index of new orders is also part of the “Crisis Monitor“ (www.destatis.de/krisenmonitor), by means of which the Federal Statistical Office compares the development of major short-term indicators in the corona crisis and the financial and economic crisis of 2008/2009. The “Crisis monitor”tor” complements the “Corona statistic“ webpage, which has provided statistical information on the economic and social consequences of the corona pandemic.

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