18 May 2001, 13:16 BBK revises German Mar factory orders heavily upward
--BBK revises German Mar factory orders to -3.0% from -4.4%
--BBK revises German Mar foreign orders to -5.3% from -7.0%
--BBK revises German Mar domestic orders to -1.1% from -2.3%
--BBK revises W German Mar factory orders to -2.6% from -4.2%
--BBK revises E German Mar factory orders to -6.3% from -6.5%
Frankfurt, May 18 (BridgeNews) - German March manufacturing orders
were revised heavily upward to down 3.0% compared with February, from the
provisionally reported 4.4% fall, the Bundesbank said Friday. When the
provisional, lower-than-expected data was released by the Finance Ministry
earlier this months, the ministry said an upward revision could be
expected.
Manufacturing orders plunged in March as foreign demand hit orders from
abroad.
* * *
Despite upward revisions, manufacturing orders data for Germany is
still very weak, with orders in the first quarter showing contraction for
the first time since the fourth quarter of 1998, when the Asian crisis
curbed demand.
According to the revised data, orders in the first quarter declined 2.8%
from the previous quarter.
Foreign orders were revised to down 5.3% from down 7.0%, while
domestic orders were revised to down 1.1% from 2.3% fall, the central bank
said.
March western German factory orders were revised to down 2.6% from the
previously reported 4.2% fall, while eastern German March factory orders
were revised to down 6.3% from a 6.5% decline.
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