German Industry Sees 7 Percent Growth in Number of Orders in June
Adjusted for inflation, new orders in June increased by 7.0 percent compared to the previous month after seasonal and calendar adjustment, according to official figures.
The manufacture of machinery and equipment, especially transport equipment, had a "particularly positive impact on the overall performance," Destatis said. Due to a large order in the manufacture of air and spacecraft, the orders for transport equipment saw an increase of 89.2 percent.
"Demand in industry continues to show a mixed picture, characterized by strong fluctuations and special effects from major orders," the Ministry for Economic Affairs and Climate Action (BMWK) said.
In mid-June, IndiGo, India's largest airline by market share, placed an order with Airbus for 500 A320 family aircraft, boosting the production of Airbus' locations in Germany as well as relevant local manufacturers. It was the biggest single purchase agreement in the history of commercial aviation.
"Nevertheless, the outlook for the industrial economy remains subdued for the time being in view of the further deterioration in the business climate and the weak global economy," BMWK added.
Sentiment among German companies deteriorated further in July as the Business Climate Index fell for the third consecutive month, according to the ifo Institute for Economic Research. Companies were "notably less satisfied with their current business," and expectations for the forthcoming six months also declined.
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