German Manufacturing Orders Rose on Month in June
By Maria Martinez
German manufacturing orders rose for the second consecutive
month in June, federal statistics office Destatis said
Manufacturing orders increased 27.9% in June in adjusted terms
after a 10.4% expansion in Many, according to Destatis. Economists
polled by The Wall Street Journal had expected orders to grow at a
smaller rate of 11% from the previous month.
On an annual basis, orders fell 11.3%, adjusted for calendar and
Despite the improvement, new orders in June were 11.3% lower in
seasonally and calendar adjusted terms compared with February, the
month before restrictions were imposed due to the coronavirus
pandemic in Germany.
Domestic orders jumped 35.3% while foreign orders grew 22.0% in
June, Destatis said.
Due to the coronavirus crisis, factory orders and industrial
output had in April seen their largest declines since the beginning
of the series in January 1991.
German industrial production data for June is due to be
published on Friday.
Write to Maria Martinez at firstname.lastname@example.org
(END) Dow Jones Newswires
August 06, 2020 02:24 ET (06:24 GMT)
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