Germany June factory orders +4.1% vs +1.9% m/m expected
Latest data released by Destatis - 5 August 2021
That's a solid bump in manufacturing orders after the drop seen in May, which was largely due to a decline in foreign demand. Domestic orders continue to keep more robust, rising 9.6% on the month in June.
- Prior -3.7%; revised to -3.2%
- Factory orders WDA +26.2% y/y
- Prior +54.3%; revised to +54.9%
The details show that new orders of intermediate goods rose 1.4% on the month, capital goods up 6.8% on the month, but consumer goods fell by 1.1% on the month.
In terms of manufacturing turnover, the June figures are 6.7% lower as compared to February 2020 - when before the pandemic really started to hit Germany.