display
Wiesbaden / Frankfurt (dpa) - Rising orders in German industry are fueling hope for a strong economic upswing despite the pandemic.
In February, industrial companies received 1.2 percent more orders than in January 2021, according to the Federal Statistical Office.
This means that incoming orders have risen for the second month in a row since the beginning of the year.
The export-oriented mechanical engineering companies even recorded the strongest growth since 2018 compared to the previous year.
Economists spoke of a continuation of the success story in German industry.
Compared to February 2020, the month before the restrictions caused by the corona pandemic in Germany, incoming orders rose by 5.6 percent.
According to the Federal Ministry of Economics, it is now above the level of February 2020 for the fifth month in a row.
display
"The data on industry remains a success story," said Thomas Gitzel, chief economist at VP Bank.
"Industry will be able to compensate for a large part of the loss in the service sector".
While incoming orders are developing well, there are apparently delays in the delivery of the goods ordered.
Analyst Ralph Solveen from Commerzbank referred to the sales of the industry, which fell in February for the second month in a row.
Economists expect a decline in German economic output in the first quarter due to the measures to contain the pandemic.
“On the other hand, the good development of orders also supports the hope of a significant plus in the second quarter,” said Solveen.
The recovery in the German mechanical engineering sector picked up significantly after a weak start to the year.
Orders rose sharply in February by 12 percent compared to the same month last year.
For the first time since October 2018, the machine builders achieved a double-digit growth rate in incoming orders, as the industry association VDMA announced.
The setback of January is completely balanced.
display
The demand for machines “Made in Germany” abroad was particularly high in February.
Orders rose by 17 percent.
Domestic orders, on the other hand, only exceeded the level of the same month last year by 2 percent.
© dpa-infocom, dpa: 210408-99-125831 / 2
Destatis announcement
Message from the Federal Ministry of Economics with further information