Germany May industrial orders fall 1.3% from April
05 July 2013 17:07 [Source: ICIS news] LONDON (ICIS)--Germany’s industrials order fell 1.3% in May from April but orders in the chemicals and pharmaceuticals sector rose, according to data released on Friday.
Germany’s economics ministry said that domestic orders fell 2.0% while export orders fell 0.7% in May from April.
After excluding volatile orders for big ticket items from the data, underlying orders were still "trending upwards", but less so than in previous months, the ministry added.
May’s decline in industrial orders comes after a revised 2.2% decline in April from March.
On a two-month sequential comparison – April-May vis-à-vis February-March - orders were down 1.6%. Compared with April-May 2012, they were down 1.2% year on year.
In a related release, Germany’s central bank, the Bundesbank, said that its volume index for orders in the country’s chemicals and pharmaceuticals sector rose to 99.5 in May, from 98.1 in April. The index’s base year is 2010.
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