Sonntag, 15. März 2009

German manufacturing

Detailed manufaturing data for January has now come out. While the overall (bleak) numbers have been known for a while, it is interesting to note that the problem is mostly "imported" from outside the Eurozone (there is no further breakdown, but it should be mostly the US and Britain, though Russia may also play a role):

While overall manufacturing orders were down 8 % from Dec to Jan (seasonally adjusted), the drop from outside the Eurozone was a massive 18%(!), compared to -1% from within the Eurozone and -4% domestically.

A similar picture for manufacturing revenues: Overall -7%, of which: Outside Eurozone -14%, Eurozone -6%, domestic -4%.

Revenues from car sales, the worst-hit sector (here, data is year-on-year, because it's taken from another press release): Outside Eurozone -43%, Eurozone -34 %, domestic -25%.

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