Germany: Orders for the manufacturing sector fell in March

German orders from the manufacturing sector fell in March, mainly due to falling orders from abroad.

Manufacturing orders fell 4.7% month-on-month on adjusted terms, following a revised 0.8% drop in February, according to Destatis.

Economists expected orders to fall by 0.5%.

Capital goods orders fell 8.3% in March, while the production of intermediate goods fell by 1.5% on a monthly basis.

Orders for consumer goods increased by 6.4%.

Overseas orders in March fell 6.7% on a monthly basis, while new orders from the eurozone increased by 5.6% and new orders from other countries decreased by 13.2%.

Domestic orders fell 1.8%.

On an annual basis, manufacturing orders fell 3.1% in March.