An important indicator for forward-looking central bank policy, evaluating new orders, and therefore also closely monitored by the ECB (an indicator used by the ECB to evaluate future production. New orders received are defined as the contractual value [excluding VAT] of contracts between manufacturers and third parties in the field of delivery of goods). – See business cycle diagnosis, models, monetary policy, model uncertainty, two-pillar principle. – Cf. the annex „Euro area statistics“ in the respective Monthly Bulletin of the ECB, heading „Prices, output, demand and labor markets“ and, for Germany, the respective figures, widely subdivided according to various aspects, in the statistical section of the respective Monthly Bulletin of the Deutsche Bundesbank, heading „Economic situation“; Monthly Bulletin of the Deutsche Bundesbank of June 2004, p. 19 (shortcomings in recording), Monthly Bulletin of the ECB of July 2013, pp. 71 et seq. (new ECB indicator for recording new orders; overviews).

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