Germany Posts Decline in June Factory Orders
(MENAFN) New data released Wednesday by Destatis revealed that factory orders in Germany’s industrial sector declined by 1% in June compared to the previous month, defying expectations of a 1.2% increase.
The decline was mainly caused by a significant 23.1% plunge in orders for other transport equipment in June, covering aircraft, ships, trains, and military vehicles.
Additional pressure came from weaker demand in the automotive sector, where new orders fell by 7.6%, and a 12.9% drop in orders for fabricated metal products, both weighing heavily on overall manufacturing activity.
However, there was a notable bright spot: orders for electrical equipment surged 23.5%, helping to partially offset broader declines.
Despite the monthly dip, factory orders were up 0.8% compared to the same month last year.
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