Wiesbaden, September 5 (financeflashnews.com) – Industrial orders from Germany rose for the second consecutive month in July 2024, surprising analysts who had predicted a decline. The increase was primarily driven by a surge in orders for transportation equipment, according to data from the Federal Statistical Office (Destatis), reports Reuters.
Surprising Growth in Orders
Seasonally adjusted industrial orders in Germany increased by 2.9% in July compared to June, when orders grew by a revised 4.6%. This exceeded analysts’ expectations, who had forecast a decline of 1.5%.
The largest contribution came from orders for transportation equipment, including trains, aircraft, and ships, which saw an 86.5% month-on-month increase. However, excluding large orders, industrial orders declined by 0.4%.
Sector-Specific Developments
In July, several other sectors also saw growth:
- Electrical equipment: +18.6%
- Capital goods: +3.5%
- Intermediate goods: +4.4%
However, some sectors experienced a decline:
- Mechanical engineering: -6.1%
- Consumer goods: -5.8%
Domestic and Foreign Orders
Foreign orders rose by 5.1% in July, with:
- Orders from the eurozone up by 5.9%
- Orders from outside the eurozone increased by 4.6%
Domestic orders remained unchanged from June, indicating stable demand in the German market.
Year-on-Year Growth
On a year-on-year basis, new industrial orders in Germany increased by 3.7% in July 2024, signaling ongoing positive trends despite broader economic challenges.
Key Figures
| Sector | Month-on-Month Growth (%) |
|---|---|
| Transportation equipment | +86.5% |
| Electrical equipment | +18.6% |
| Capital goods | +3.5% |
| Intermediate goods | +4.4% |
| Mechanical engineering | -6.1% |
| Consumer goods | -5.8% |
| Foreign orders | +5.1% |
| Domestic orders | 0% |
Keywords: Germany, industrial orders, transportation equipment, Destatis, electrical equipment, capital goods, mechanical engineering, exports, eurozone
