Overview
- German manufacturing orders declined 1.4% in May from April, exceeding economists’ forecast of a 0.1% drop
- Domestic order intake plunged 7.8%, while electronics and optical product bookings slumped 17.7%
- Foreign orders rose 2.9%, driven by a 9.0% gain outside the eurozone, and metal products orders jumped 18.2%
- The less volatile three-month comparison shows a 2.1% increase in total orders, or 1.9% excluding major contracts
- Analysts term the May fall a manageable setback, but the economy ministry cautions that trade and geopolitical uncertainties continue to fuel volatility