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- German factory orders rose sharply in June
German factory orders rose sharply in June
According to provisional results of the Federal Statistical Office (Destatis), real (price adjusted) new orders increased by a seasonally and calendar adjusted 4.1% in June 2021 compared with May 2021. Economists had expected a 1.9% increase. Excluding major orders, real new orders in manufacturing were 1.7% higher than in the previous month.
Compared with February 2020, which was the month before restrictions were imposed due to the corona pandemic in Germany, new orders in June 2021 were 11.2% higher in seasonally and calendar adjusted terms. Compared with June 2020 (-11.4% compared to June 2019), the increase in calendar adjusted new orders amounted to +26.2%.
Domestic orders increased by 9.6%. Major orders had a substantial effect on the domestic result of the month. Foreign orders went up by 0.4% in June 2021 on the previous month. New orders from the euro area increased 1.3%, and new orders from other countries fell by 0.2% compared with May 2021.
In June 2021, the manufacturers of intermediate goods saw new orders increase by 1.4% compared with May 2021. The manufacturers of capital goods saw an increase of 6.8% on the previous month. Regarding consumer goods, new orders fell by 1.1%.
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