Germany industrial orders fall 1.3% in August from July

05 October 2012 15:14  [Source: ICIS news]

LONDON (ICIS)--Germany’s industrial orders fell 1.3% in August from July, but orders in the chemical and pharmaceutical sector improved marginally, according to data released on Friday.

Germany’s economics ministry said that August’s decline in overall industrial orders was primarily due to weaker domestic demand while export orders remained unchanged from July.

In July, orders rose by a downward-revised 0.3% from June.

On a two-month sequential comparison – July-August versus May-June – industrial orders were down 1.2%. Compared with July-August 2011, orders were down 4.7% year on year.

The ministry added that there are currently no indications of a stronger decline in economic activity. It pointed to recent improvements in industry sentiment surveys.

In a separate release, Germany's central bank said on Friday that its index for orders in the country's chemical and pharmaceutical sector improved slightly in August from July.

The Bundesbank said that on a value basis the index was 121.9 in August, up from 121.5 in July. On a volume basis, it was 101.6 in August, compared with 101.5 in July. The index’s base year is 2005.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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