German new manufacturing orders fell -1.4% MoM (vs -0.1% MoM expected) in May 2025 but were still up +5.3% YoY, with core orders (ex-large scale) down -3.1% as weak electronics and metals demand offset gains in fabricated products.

• Capital goods orders declined -0.9% MoM; intermediate goods -3.4%, while consumer goods rose +3.1%.
• Sector declines: computers/electronics/optics -17.7%, electrical equipment -6.2%, basic metals -5.1%.
• Fabricated metal products and transport equipment saw strong increases of +18.2% and +6.8%, respectively.
• Foreign orders rose +2.9% MoM, led by non-euro area (+9.0%); euro area orders fell -6.5%, domestic orders dropped -7.8%.
• Manufacturing turnover fell -1.9% MoM and -1.7% YoY, reflecting broad-based demand softness.