The largest declines concern the production of computers, electronic and optical products
New orders in industry fell by 22%. y/y in March 2024 - reported the Central Statistical Office (GUS). On a monthly basis, there was a decrease of 1.1%.
Export and export orders fell by 21.7% in March. y/y and decreased by 0.1%. on a monthly basis.
"The value of new orders received by the surveyed industrial processing enterprises in March this year. was by 22% lower than a year ago (including export orders, the decline was 21.7%). New orders decreased in most of the surveyed sectors - with the exception of the production of pharmaceutical products (where they increased by approximately 11%). The value of new orders in the production of computers, electronic and optical products (by approximately 40%), clothing (by approximately 35%) and metals (by approximately 25%) was much lower than in March last year. New orders also dropped significantly, including: in the production of paper and paper products, metal products, machinery and equipment, and chemicals and chemical products (decreases ranging from approx. 19% to approx. 16%)," we read in the announcement by the Central Statistical Office.
The new orders in industry indicator serves to assess future production and shows the development of demand for industrial products and services. Orders in industry are defined as the value of contracts (excluding VAT) binding the manufacturer and a third party for the supply of products and services.
source: ISBnews
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