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- German factory orders rose less than forecast in July
German factory orders rose less than forecast in July
According to provisional results of the Destatis, real (price adjusted) new orders increased by a seasonally and calendar adjusted 2.8% in July 2020 compared with June 2020. Economists had expected a 5.0% increase.
Compared with July 2019, the decrease in calendar adjusted new orders amounted to 7.3%. Excluding major orders, real new orders in manufacturing seasonally and calendar adjusted were 6.2% higher than in the previous month.
Compared with February 2020, the month before restrictions were imposed due to the corona pandemic in Germany, new orders in July 2020 were 8.2% lower in seasonally and calendar adjusted terms.
Domestic orders decreased by 10.2% and foreign orders rose by 14.4% in July 2020 on the previous month. New orders from the euro area went up 7.3%, and new orders from other countries increased by 19.2% compared with June 2020.
In July 2020 the manufacturers of intermediate goods saw new orders increase by 9.5% compared with June 2020. The manufacturers of capital goods saw a decrease of 0.4% on the previous month. Regarding consumer goods, new orders rose 0.2%.
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