Economic Buzz: Germanys Factory Orders Decline 1.1% On Month In July

6 Sep 2022 , 02:59 PM

Germanys real (price adjusted) new orders in manufacturing decreased by 1.1% on a seasonally and calendar adjusted basis in July 2022 compared with June 2022, according to provisional results of the Federal Statistical Office (Destatis). Not including major orders, a 0.8% decrease in new orders was recorded in manufacturing. Compared with July 2021, new orders fell by a calendar adjusted 13.6% in July 2022. However, the order intake in the same month of the previous year had been exceptionally high. New orders in the domestic sector declined by 4.5% and in the euro area by 6.4% compared with the previous month. In contrast, the volume of new orders from the non-euro area rose by 6.5%. An 1.3% increase was recorded for total foreign orders. The producers of capital goods recorded a decrease of 0.2% in July 2022 on the month before. Producers of intermediate goods saw a rise in new orders of 1.5%. Regarding consumer goods, orders went down by 16.9%. This was mainly due to a 23.6% decline in the volume of new orders for the manufacture of pharmaceutical products. In June 2022, however, new orders in this sector had increased by 10.3%.Powered by Commodity Insights