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DE: Manufacturing Orders
| Consensus | Consensus Range | Actual | Previous | Revised | |
| Month over Month | 0.5% | 0.5% to 1.5% | -2.9% | -1.0% | -0.2% |
| Year over Year | -0.6% | -0.6% to -0.5% | -3.5% | 0.6% | 1.5% |
Highlights
Germany's manufacturing sector faced a sharp setback in July 2025, with new orders falling 2.9 percent month-over-month and 3.5 percent year-over-year after seasonal and calendar adjustment. However, the picture looks less severe once large-scale orders are excluded. Without them, new orders actually rose 0.7 percent, showing how volatile big-ticket contracts can distort overall trends.
The main drag came from a dramatic 38.6 percent slump in other transport equipment (aircraft, ships, trains, and military vehicles), which had surged on large orders in June. Electrical equipment also weakened sharply (minus 16.8 percent), while the automotive sector bucked the trend with a 6.5 percent rise, softening the blow. Across product categories, demand was uneven. Capital goods fell 2.4 percent and intermediate goods dropped 5.3 percent, but consumer goods climbed 4.3 percent, signalling that household demand remains more resilient than industrial investment.
Foreign orders slid by 3.1 percent, with both euro area (minus 3.8 percent) and non-euro area (minus 2.8 percent) markets contracting, alongside a 2.5 percent fall in domestic demand. Yet, despite weak orders, turnover told a different story, rising 0.9 percent month-over-month and 2.3 percent year-over-year, hinting that production pipelines and earlier demand are still supporting revenues.
Overall, the data reveal a sector caught between volatile large-scale orders, fragile external demand, and resilient consumer spending, leaving the RPI at minus 22 and the RPI-P at minus 29. This means that economic activities continue to fall short of the expectations for the German economy.
Definition
Manufacturers orders are a leading indicator for industrial production. The figures are calculated every month by the Federal Statistical Office and represent the value of all orders for the delivery of self-made products confirmed by industrial enterprises with 50 or more employees in the respective reporting period. The results are broken down by both sector and region of origin (domestic and foreign split into euro area and non-euro area). Monthly volatility can be very high so moving averages give a much better guide to underlying trends.
Description
Manufacturers orders data are keenly awaited by analysts each month. The data present a detailed breakdown by various sectors and a reading of the pulse of a major sector of the economy. Like the PPI, manufacturing orders data exclude construction, which is the preferred Eurostat measure.
The manufacturers orders data rank among the most important early indicators for monitoring and analyzing German economic wellbeing. Because these data are available for both foreign and domestic orders they are a good indication of the relative strength of the domestic and export economies. The results are compiled each month in the form of value indexes to measure the nominal development of demand and in the form of volume indexes to illustrate the price-adjusted development of demand. Unlike in the U.S., orders data are not collected for all manufacturing classifications - but only those parts in which the make-to-order production plays a prominent role. Not included are, for example, mining, quarrying and the food industry.