German new manufacturing orders rose 3.6% MoM (vs 1.3% MoM expected) and 3.8% YoY in March, supported by broad sectoral strength and improved foreign demand.

• Excluding large-scale orders, new orders were up +3.2% MoM.
• Orders rose sharply in pharmaceuticals (+17.3% MoM), electrical equipment (+14.5% MoM), and transport equipment (+13.0% MoM).
• Foreign orders increased +4.7% MoM, with euro area orders up +8.0% MoM and non-euro area orders up +2.8% MoM; domestic orders rose +2.0% MoM.
• New capital goods orders rose +3.7% MoM; intermediate goods +2.5% MoM; and consumer goods +8.7% MoM.
• Manufacturing turnover rose +2.2% MoM but was down -0.4% YoY.