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Surprise fall in German industrial orders in July


Industrial orders in Germany fell unexpectedly in July, weighed down by lower demand both domestically and the euro area, according to preliminary official data.

FRANKFURT AM MAIN -  Industrial orders in Germany fell unexpectedly in July, weighed down by lower demand both in Germany and the euro area, preliminary official data showed on Wednesday.

New orders decreased by 0.7 percent month-on-month in July, adjusted for seasonal and calendar effects, the federal statistics authority Destatis said.

Analysts surveyed by data company Factset had predicted a slight increase of 0.1 percent.

Orders from within Germany fell 1.6 percent and those from eurozone neighbours were down 1.0 percent, while contracts from the rest of the world increased 0.6 percent, Destatis calculated.

Demand for German-made goods was down across all sectors, with orders for producer goods and capital goods falling by 0.4 percent and 0.7 percent respectively, while there was a 3.0-percent drop in orders for consumer goods.

Nevertheless, eliminating highly volatile large contracts from the data showed an increase of 0.6 percent compared with the figure for June, Destatis noted.

"The trend for industrial orders points slightly upwards," the economy ministry in Berlin insisted in a statement.

In June and July combined, orders increased by 1.1 percent compared with the preceding two months, the ministry calculated.

"Ordering activity remains at a very high level," the statement added. "According to the indicators, the solid upturn in industry should continue."



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Muslim Global: Surprise fall in German industrial orders in July
Surprise fall in German industrial orders in July
Industrial orders in Germany fell unexpectedly in July, weighed down by lower demand both in Germany and the euro area, preliminary official data showed on Wednesday
Muslim Global
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