German factory orders rebound in June
By Sean Farrell
Date: Tuesday 28 Jun 2022
(Sharecast News) - German factory orders rebounded in June as Europe's biggest economy revived from Coronavirus lockdowns, official figures showed
Orders rose 4.1% from the previous month in June on a price, seasonally and calendar adjusted basis, Destatis said. The figures were a turnaround from May when there was a 3.2% month-on-month drop.
June's figure was 26.2% higher than in the same month a year earlier. Excluding major orders, orders were up 1.7% from May.
Domestic orders rose 9.6%, boosted by major orders, and foreign orders were up 0.4%. Capital goods orders increased 6.8% and consumer goods fell 1.1%.
Real turnover fell 1.4% from a month earlier as supply problems took their toll and was down 6.7% from February 2020, the month before the pandemic hit.
"For several months, a trend of increasing new orders and stagnating turnover has been recorded," Destatis said. "The reason for this trend can be expected to have been a delivery bottleneck regarding intermediate products, which was reported for many branches."
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN