Bonds & Rates
Home›Bonds & Rates›Economy›German factory orders rise in June as large-scale dema…
German factory orders rise in June as large-scale demand surges
June orders were up 3.1% month over month, but new orders were flat when large orders were excluded, highlighting the concentration in big ticket demand.
German factory orders rose in June, climbing 3.1% month over month versus a 0.3% forecast, according to Forexlive citing German data.
The June increase followed a downward revision to May, with the German statistics office attributing the change to an amended adjustment for price changes.
The report also showed the strength was concentrated in large orders. Excluding large-scale orders, industrial orders fell 0.5% on the month, while new orders were flat at 0.0%.
In details, large-scale orders surged in machinery and equipment (+12.7%) and in computer, electronic and optical products (+22.7%), while automotive new orders rose 3.8% and new orders for intermediate goods declined 2.5% in June.