German industrial orders unexpectedly rise in July
2024.09.05 02:52
By Maria Martinez
(Reuters) -German industrial orders unexpectedly rose in July due to large scale orders, the federal statistics office said on Thursday.
Orders rose in July by 2.9% on the previous month on a seasonally and calendar adjusted basis.
A Reuters poll of analysts had pointed to a fall of 1.5%.
When large scale orders such as trains, ships and aircrafts are excluded, new orders in July were down 0.4% on the previous month. Large scale orders posted a 86.5% increase on the month.
The less-volatile three-month on three-month comparison showed that new orders were 1.7% higher in the period from May to July than in the previous three months.
The statistics office also revised the data for June to a 4.6% increase on the month, up from a previous figure of 3.9%.
New foreign orders rose by 5.1% on the month, while domestic orders remained unchanged, the statistics office said.
