German Factory Orders Log Unexpected Fall
(RTTNews) - Germany's factory orders declined unexpectedly in June on a notable fall in demand from non-EU countries, official data revealed on Wednesday.
New orders fell 1.0 percent month-on-month in June, Destatis reported. The fall was sharper than the 0.8 percent decrease posted in May and confounded expectations for an increase of 1.0 percent.
When large-scale orders are excluded, new orders were 0.5 percent higher than in the previous month.
Foreign orders declined 3.0 percent in June. Here, orders from the euro area were up 5.2 percent, while orders from outside the euro area plunged 7.8 percent. Domestic orders grew 2.2 percent.
While new orders for capital goods decreased 5.3 percent, orders for consumer goods grew 0.5 percent and that for intermediate goods climbed 6.1 percent.
On a yearly basis, growth in factory orders eased sharply to 0.8 percent from 6.1 percent in the previous month.
Further, data showed that real turnover in manufacturing rebounded 0.9 percent in June from the previous month, when it was down 1.8 percent. Year-on-year, manufacturing turnover slid 1.2 percent.
Last week, the EU finalized a trade deal with the US. Accordingly, the US will impose a tariff of 15 percent on the EU goods, which is lower than the 30 percent tariff US President Donald Trump had previously threatened. The EU will invest $600 billion in the US by 2029 and purchase $750 billion of US energy exports through 2028.
Eurozone Industrial Production Shrinks For Second Month
German ZEW Economic Sentiment Improves Moderately
ECB Raises Deposit Rate To 2.50% Amid Inflation Fears
German Exports Fall For First Time In 6 Months
Eurozone Economic Growth Revised Up To 0.6%
Eurozone Investor Confidence Strongest Since 2022
German Industrial Output Falls Most In 11 Months
