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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