Factory orders in Germany reported weaker than expected growth in July

factory orders

factory ordersFactory orders in Germany reported weaker than expected growth in July 2016, because of the decline in domestic demand and despite the strong growth in demand for capital goods from the Eurozone. Factory orders, adjusted for seasonal and calendar effects reported growth of 0.2% month-on-month in July, according to government statistics, while the economists expected growth of 0.6%. On year-on-year basis, the orders in Germany declined by 6.3% in July, but accounting for the number of working days, however the decline was limited to 0.7%.

The Economic Ministry of Germany indicate that this year factory orders in the country recorded stable growth rates that suggest and stable activity in the industrial sector in the autumn.

In July the foreign industrial orders recorded a growth of 2.5% mom, while orders in the domestic market shrank by 3% mom.

According to national statistics Germany’s most active were orders for ships, planes and trains.

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