The increase in new orders accelerated from 25.6% in January, when new export orders were up 26.7% and new domestic orders climbed 16.6%.
After steady declines between August 2008 and late 2009, new orders started to rise — mostly at double-digit rates — in a year-on-year comparison from February 2010.
New domestic orders rose sharply in most segments, although they edged up in paper and chemicals production and dropped in vehicle production. Drug makers’ new domestic orders more than doubled, albeit from a low base, as did new orders for garment makers. New orders of machinery and equipment makers jumped 46.5%, and new orders of computer, electronics and optical product makers increased 30%.
Among new export orders, the biggest year-on-year increase, of 100%, from an already high base, was registered among pharmaceuticals companies. The rise among machinery and equipment makers reached 68.6% and new export orders climbed 33% for vehicle manufacturers. New export orders for the chemicals industry “edged up” 5.1%.
Total stock of manufacturing sector orders was up 19.7% at the end of February from twelve months earlier. The stock rose for the third month in a row after steady declines since October 2008. The stock rose on a 22.6% rise in stock of export orders while domestic orders still lagged 4.6% behind levels a year earlier.
Domestic order stock dipped under levels a year earlier from April 2009 and have been in the negative since. The decline in February, however, was the smallest during the period.
With the exception of August and December 2010, total stock of export orders has been up year-on-year since December 2009, following consecutive declines between November 2008 and June 2010.
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