2024-09-06 17:48:37
The German economy is struggling, but there is a glimmer of hope. Industrial orders have increased for the second time.
The incoming orders have once again provided a ray of hope for the ailing German industry. In July, incoming orders rose by 2.9 percent month-on-month thanks to the influence of large orders, the Federal Statistical Office (Destatis) announced on Thursday in Wiesbaden. This is the second increase in a row after incoming orders had previously fallen continuously for five months. Analysts were positively surprised by this. They had expected an average decline of 1.7 percent for July.
A year-on-year comparison also showed a positive development. In this regard, the Federal Office reported an increase of 3.7 percent, after a decline of a revised 11.2 percent in the previous month. The positive result in July was due to large orders. Excluding these, the order intake was 0.4 percent lower than in June, the statement continues.
However, the three-month comparison showed a positive development. From May to July, incoming orders were 1.7 percent higher than in the previous three months, the Federal Office further announced.