Germany January industrial orders fall 1.9% from December

07 March 2013 17:26  [Source: ICIS news]

LONDON (ICIS)--Germany’s industrial orders fell 1.9% in January from December, with orders in the country’s chemicals and pharmaceuticals industry also falling, according to statistics released on Thursday.

January’s decline in industrial orders was led by a 3.0% decline in orders from abroad while domestic orders fell by 0.6%, the country’s federal statistics agency said.

The decline indicated that German industry had not yet overcome its weak phase, the agency said. However, some recent economic sentiment indicators were showing strong improvements, it added.

January’s decline came after a 1.1% increase in orders in December from November.

On a two-month sequential comparison – December-January versus October-November – industrial orders were down 1.3%. Compared with December-January in the year-ago period, orders were down 2.2% year on year.

Meanwhile, Germany’s central bank said that its volume index for orders in Germany’s chemicals and pharmaceuticals industry fell to 97.1 in January, from 97.8 in December.

For the 2012 fourth-quarter the index was 99.3, down from 100.4 in the third quarter, but up from 96.8 in the 2011 fourth quarter. The index’s base year is 2010.

In related news, Germany’s chemical producers group VCI said earlier on Thursday that it was maintaining its 2013 forecast for the country’s chemical production growth at 1.5%.

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

By: Stefan Baumgarten
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