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Economy in Brief

Germany Posts Terrible Orders 
by Robert Brusca January 8, 2009

German orders are plunging dropping by 6% in November, 6.3% in October and by 8.3% in October. That is quite a string of losing numbers. Order are falling at about a 50% annual rate in the fourth quarter an that is true of orders both domestic and foreign sourced as well.

Sales have been weak in Germany in the quarter as well as consumer durables sales are dropping at a 23% annual rate. Car sales are weak globally. But even capital goods sales are dropping at a 15% annual rate in Q4 and sales of intermediate goods are down at a 23% annual rate, all in real terms.

German orders are now so weak that the are off by 24% Yr/Yr. It’s real pain.



German Orders and Sales By Sector and Origin
Real and SA % M/M % Saar
  Nov-08 Oct-08 Sep-08 3-MO 6-Mo 12-Mo YrAgo QTR-2-Date
Total Orders -6.0% -6.3% -8.3% -57.6% -34.9% -24.0% 13.0% -49.7%
Foreign Orders -4.4% -6.3% -11.6% -60.8% -37.4% -26.9% 17.4% -53.0%
Domestic Orders -7.6% -6.4% -4.7% -53.8% -32.1% -20.7% 8.4% -45.9%
Real Sector Sales                
MFG/Mining -4.5% -0.1% -4.3% -30.4% -16.6% -7.0% 4.3% -16.8%
Consumer  -2.2% -0.1% -1.2% -13.0% -6.7% -5.3% 1.2% -6.1%
Consumer Durables -4.5% -1.1% -6.2% -38.1% -21.3% -9.7% -0.5% -22.9%
Consumer Nondurables -1.7% 0.1% -0.2% -7.1% -3.6% -4.5% 1.5% -2.5%
Capital Goods -5.2% 1.0% -5.4% -32.6% -17.9% -6.6% 5.8% -15.5%
Intermediate Goods -5.0% -1.3% -4.5% -35.8% -19.9% -8.7% 4.5% -23.6%
All MFG-Sales -4.2% 0.0% -4.2% -29.1% -15.8% -6.6% 3.7% -15.8%
Germany Posts Terrible Orders 
by Robert Brusca January 8, 2009

German orders are plunging dropping by 6% in November, 6.3% in October and by 8.3% in October. That is quite a string of losing numbers. Order are falling at about a 50% annual rate in the fourth quarter an that is true of orders both domestic and foreign sourced as well.

Sales have been weak in Germany in the quarter as well as consumer durables sales are dropping at a 23% annual rate. Car sales are weak globally. But even capital goods sales are dropping at a 15% annual rate in Q4 and sales of intermediate goods are down at a 23% annual rate, all in real terms.

German orders are now so weak that the are off by 24% Yr/Yr. It’s real pain.



German Orders and Sales By Sector and Origin
Real and SA % M/M % Saar
  Nov-08 Oct-08 Sep-08 3-MO 6-Mo 12-Mo YrAgo QTR-2-Date
Total Orders -6.0% -6.3% -8.3% -57.6% -34.9% -24.0% 13.0% -49.7%
Foreign Orders -4.4% -6.3% -11.6% -60.8% -37.4% -26.9% 17.4% -53.0%
Domestic Orders -7.6% -6.4% -4.7% -53.8% -32.1% -20.7% 8.4% -45.9%
Real Sector Sales                
MFG/Mining -4.5% -0.1% -4.3% -30.4% -16.6% -7.0% 4.3% -16.8%
Consumer  -2.2% -0.1% -1.2% -13.0% -6.7% -5.3% 1.2% -6.1%
Consumer Durables -4.5% -1.1% -6.2% -38.1% -21.3% -9.7% -0.5% -22.9%
Consumer Nondurables -1.7% 0.1% -0.2% -7.1% -3.6% -4.5% 1.5% -2.5%
Capital Goods -5.2% 1.0% -5.4% -32.6% -17.9% -6.6% 5.8% -15.5%
Intermediate Goods -5.0% -1.3% -4.5% -35.8% -19.9% -8.7% 4.5% -23.6%
All MFG-Sales -4.2% 0.0% -4.2% -29.1% -15.8% -6.6% 3.7% -15.8%
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