Data published by the Federal Statistical Office (Destatis) showed that in March, factory orders increased by 3.6% after remaining unchanged in February. This was the strongest growth since December 2024. Economists had expected a 1.3% increase. Meanwhile, over the last three months (through March), factory orders fell by 2.3% compared to the previous three months. When large-scale orders are excluded, new orders jumped by 3.2% compared to February and by 0.5% q/q over a three-month period.
Destatis said that in March, many economic sectors contributed to the increase in new orders, in particular the manufacture of electrical equipment (+14.5% mom), the manufacture of machinery and equipment (+5.3%), the manufacture of other transport equipment (aircraft, ships, trains, military vehicles; +13.0%), the automotive industry (+2.5%) and the pharmaceutical industry (+17.3%).
As for sectors, new orders increased in the intermediate goods sector (+2.5% m/m) and in the consumer goods sector (+8.7% m/m). Orders also increased in the capital goods sector (+3.7% m/m).
Meanwhile, foreign orders increased by 4.7% m/m, while new orders from the euro area jumped by 8.0% m/m. New orders from the rest of the world increased by 2.8% m/m, while domestic orders increased by 2.0% m/m.