Germany manufacturing orders rise 4.6 percent in July

Nathan Andrada – Fourth Estate Cooperative Contributor

Berlin, Germany (4E) – Manufacturing orders in Germany expanded in July, surpassing economists’ forecasts, according to data by the Federal Statistical Office released Thursday.

Manufacturing orders for the month of July jumped 4.6 percent on the month, the official report showed. The June figures were also revised up to a 2.7 percent decline after being initially reported as a 3.2 percent drop.

Domestic orders inched up 1.7 percent and foreign orders advanced 6.9 percent. Demand from the euro area climbed 1.7 percent and demand from the rest of the world increased 9.8 percent.

Thursday’s data also showed that orders for intermediate goods edged higher by 0.3 percent and orders for capital goods rose 8.5 percent. However, orders for consumer goods fell 2.9 percent.

The results indicate that Germany’s exporters are withstanding the impact of the tensions between Russia and Ukraine and that the weakness within the euro zone may pose a greater risk.

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