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German chemical June orders drop 4.2% from May: Destatis

Increase font size  Decrease font size Date:2012-08-20   Views:525
New orders to German chemical producers fell in June by 4.2% month-on-month on a seasonally, calendar and price-adjusted basis, thus ending a five-month sequence of modest growth, provisional value data by the federal statistics office showed Tuesday.

Order activity softened across geographical areas, with domestic demand dropping 5.2% and export orders receding 3.3%. The latter included a 2.5% fall in new business from eurozone countries and a 3.8% decrease from non-euro buyers.

Orders for base chemicals were 4.4% lower than in May on a 5.5% decline on the domestic front and a 3.5% decrease in export demand, according to the preliminary data.

Across Germany's entire manufacturing sector, new order activity fell 1.7% amid weakness in the intermediate (-3.2%) and capital goods (-1%) segments.

Over the first half of the year, the value of firm chemical orders was 5.4% lower than in the previous year, with similar declines recorded in domestic (-5.5%) and foreign (-5.3%) new business.

 
 
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