The Federal Ministry of Economics points out that incoming orders in the manufacturing sector were already well above the pre-corona crisis level before they increased in January.
(Photo: dpa)
Berlin At the beginning of the year, and thus several weeks before the outbreak of war in the Ukraine, German industry landed a surprising number of orders. The companies collected 1.8 percent more orders in January than in the previous month, as the Federal Statistical Office announced on Monday. Experts polled by Reuters had only expected an increase of 1.0 percent. January already marked the third upward movement in a row.
The increase in orders is mainly due to orders from abroad: their volume rose by 9.4 percent in January compared to the previous month. At the same time, foreign orders outside the euro zone increased significantly by 17 percent. On the other hand, orders from the countries of the monetary union fell by 2.6 percent. Domestic orders fell 8.3 percent from the previous month.
The Federal Ministry of Economics points out that incoming orders in the manufacturing industry were already well above the pre-corona crisis level before they increased in January: “However, the current geopolitical developments harbor enormously high uncertainties regarding the further development of demand,” it said with a view to the war further in Ukraine. It is also uncertain to what extent the producers will be able to meet the high order backlog in the near future in view of delivery bottlenecks and material shortages.
More: Small business owners and the self-employed are slipping deeper into the crisis
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