German new manufacturing orders fall; retail turnover down

(Alliance News) - Europe's largest economy saw new manufacturing orders fall during November, data from Destatis showed on Friday.

On a seasonally adjusted basis, new orders in manufacturing fell by 5.3% in November compared with October, according to provisional results.

Foreign orders fell by 8.1%, reflected by the 10.3% decrease in new eurozone orders, and 6.8% decrease in new orders from other countries, when compared with October.

On an annual adjusted basis, orders fell by 11% in November on the previous year.

Turnover in manufacturing increased by 2.1% in November when compared with October, Destatis said. On an annual basis, turnover was a calendar-adjusted 3.5% higher.

Meanwhile, price-adjusted retail turnover in Germany was 0.3% lower in 2022 than in the record year of 2021, according to further data released on Friday.

In 2021, turnover grew a real 0.8% on 2020, and 5.6% on 2019.

The nominal turnover for 2022 was 8.2% higher. Destatis attributed the difference between the real and nominal results to the higher inflation rate recorded in November, up 10% for retail trade.

By Holly Beveridge; Alliance News reporter

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