Data released by the German Statistics Office on Thursday showed that, supported by domestic demand growth, the growth of German industrial orders in February increased on a monthly and monthly basis.
According to the revised data, the total orders of German industry in February increased by 1.2% from a month ago, when it was 0.8%.
Compared with February 2020, just before Germany imposed restrictions on the containment of the coronavirus pandemic, new industrial orders jumped by 5.6%. They rose 1.4% in January.
In the second month of this year, capital goods orders grew the fastest, with an increase of 2.1% over the previous month. Orders for intermediate goods also increased slightly, increasing by 0.5%.
At the same time, according to a report by Destatis, the demand for consumer goods fell by 1.9%.
Domestic demand has provided important support for industrial orders, which is reflected in a 4% increase in domestic orders over the previous month.
Foreign orders accounted for the largest proportion, with a monthly decrease of 0.5%. New orders from trading partners in the Eurozone increased by 2.7% each month, but new orders from the rest of the world fell by 2.3%.
The Ministry of Economic Affairs pointed out that orders from the major automobile and machinery manufacturing industries increased by 3.4% and 2.2%, respectively.
A report by Destatis shows that excluding large orders, orders in the euro zone’s largest economy manufacturing industry increased by 1.5% in February.