Frankfurt/Wiesbaden (dpa) - The highest order intake since June 2021 is giving German industry a boost. In February, the price-adjusted volume of new orders increased by 4.8% compared to the previous month, as reported by the Federal Statistical Office on Wednesday. According to the Wiesbaden-based statisticians, major orders for ships, aircraft and military vehicles, among other things, contributed significantly to this third consecutive increase. In this area, there was an increase in orders of 55.9% compared to January 2023.

Measured against February 2022, total incoming orders for industry in Germany were 5.7% lower in February of the current year, adjusted for calendar effects. In addition, not all industrial sectors benefited from the recent upturn. According to the Federal Ministry of Economics, orders in the pharmaceutical industry, for example, were also down in February, falling by 5.5% compared to the previous month. In contrast, there were renewed increases in the automotive industry, metal production and the chemical industry.

According to the industry association VDMA, the mechanical and plant engineering sector continues to record a slump in orders. Adjusted for price increases (in real terms), incoming orders in February were 17% lower than in the same month last year, according to the German Engineering Federation (VDMA) in Frankfurt. "The decline can be explained in particular by the fact that the economic situation continues to be characterized by numerous challenges, which is causing caution among many investors," explained VDMA economic expert Olaf Wortmann. According to the figures, there was also a particularly high number of orders in the same month last year.

With regard to the overall figures, the Ministry of Economic Affairs spoke of an "economic recovery": "Incoming orders are continuing to recover in many sectors of German industry." However, according to the latest calculation by the Federal Office, the increase in orders in industry in January was only half as high as initially calculated at 0.5% compared to the previous month.

"The current growth in orders is at least a glimmer of hope," said Jupp Zenzen, economic expert at the Association of German Chambers of Industry and Commerce (DIHK). However, in view of the slowdown in the global economy, high cost increases and rising interest rates, this is not yet a sure-fire success.

Commerzbank analyst Ralph Solveen also spoke of a positive surprise from German industry. However, it is too early to speak of an upward turnaround: "This is unlikely to be the start of a longer-term economic recovery," Solveen said.