German manufacturing new orders were flat monthly and down -0.2% YoY in February 2025, following a revised -5.5% MoM drop in January. Analysts expected an increase of 3.5% MoM.

• Excluding large-scale orders, new orders fell -0.2% MoM in February.
• Over the past three months, new orders declined -1.6%, but rose 0.4% when excluding large-scale orders.
• Capital goods orders rose 1.5% MoM, while intermediate goods fell -1.3% and consumer goods dropped -5.2%.
• Domestic orders declined -1.2% MoM; foreign orders rose 0.8%, with a -3.0% drop from the euro area and +3.4% increase from non-euro area.
• Turnover in manufacturing rose 0.2% MoM in February but was down -2.9% YoY.