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German manufacturers have six month order backlog

Published March 19, 2018 Updated March 19, 2018 02:54pm

The Federal Statistics Office said on Monday that manufacturers' so-called 'order range' was 5.5 months in January, meaning they could carry on producing for nearly half a year even if they received no new orders.

January's reading marked an increase from 5.4 in December and was the highest since the Office began compiling the measure in 2015.

"The high (order) range is reassuring news in stormy times, which will be marked in the coming weeks by protectionist threats and a tendency towards declining sentiment indicators," DekaBank economist Andreas Scheuerle said.

Scholz told daily Bild he was "seriously worried" about the trade stand-off with Washington.

On Sunday, he said Germany would continue talks to dissuade the United States from imposing planned punitive steel and aluminium tariffs.

Copyright Reuters, 2018