Economists did not expect this either – and that gives hope for the coming months. Instead of a decline, industrial companies are again recording more orders. But there is a reason for the increase.
The incoming orders are once again a ray of hope for the struggling German industry. In July, orders rose by 2.9 percent month-on-month thanks to larger orders, the Federal Statistical Office (Destatis) in Wiesbaden announced. This is the second increase in a row after incoming orders had previously fallen continuously for five months.
Analysts were positively surprised by this. They had expected an average decline of 1.7 percent for July. After revision of the preliminary results, there was an increase of 4.6 percent for June 2024 compared to May 2024 (previously: 3.9 percent).
A year-on-year comparison also showed a positive development. In this regard, the Federal Office reported an increase of 3.7 percent, after a decline of a revised 11.2 percent in the previous month.
Large orders ensure plus
The positive result in July was due to large orders. If these are excluded, the order intake was 0.4 percent lower than in June, it continues. The three-month comparison showed a positive development. From May to July, the order intake was 1.7 percent higher than in the three months before.
The positive development in incoming orders in July is due in particular to the significant increase in “other vehicle construction” – this includes aircraft, ships, trains, military vehicles. According to the information, new orders here were 86.5 percent higher than in the previous month due to several large orders.
Source: Stern
