German industry unexpectedly landed a large number of orders before the turn of the year. According to the Federal Statistical Office, companies received 2.8 percent more orders in December than in the previous month. The unexpectedly strong increase was driven by domestic demand, which increased by 11.7 percent. By contrast, orders from abroad fell by 3.0 percent. In 2021, incoming orders in the manufacturing sector were 17.8 percent higher than in 2020 and 9.3 percent higher than in the pre-Corona year 2019. “The order books are well filled and secure production well into the current year,” says the Summary by chief economist Thomas Gitzel from VP Bank. Compared to February 2020, the month before the virus pandemic restrictions began, total orders in December were 9.8 percent higher.
Federal Statistical Office – Industry has a lot to do – Economy
