Overview

• New orders fell 0.8% in August from July on a seasonally and calendar adjusted basis, with orders excluding large contracts down 3.3%.
• Foreign demand dropped 4.1%—Eurozone -2.9% and non‑euro area -5.0%—while domestic orders rose 4.7%.
• Auto (-6.4%), data processing and electronics (-11.5%) and pharmaceuticals (-13.5%) weighed most, offset by gains in metal products (+15.4%), other vehicles (+17.1%) and electrical equipment (+7.2%).
• On a three‑month view, orders fell 2.3% versus the prior three months, indicating a weakening underlying trend.
• Forecasters had expected a 1.0% rise, and the miss adds pressure on the Merz government ahead of an updated growth outlook.