Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ German production orders rose 28% in June

German production orders rose 28% in June



German production orders rose for the second month in a row in June, the federal statistics bureau Destatis said on Thursday.

Production orders rose 27.9% in June on adjusted terms after a 10.4% increase in Many, according to Destatis. Economists surveyed by The Wall Street Journal expected orders to grow at a slower rate of 11% compared to the previous month.

On an annual basis, orders fell by 11.3%, adjusted for the calendar and price effect.

Despite the improvement, new orders in June were 11.3% lower in seasonally and calendar-adjusted terms than in February, a month before restrictions were imposed due to the coronavirus pandemic in Germany.

Domestic orders jumped 35.3%, while foreign orders rose 22.0% in June, Destatis said.

Due to the coronavirus crisis, factory orders and industrial production in April saw their biggest declines since the series began in January 1

991.

Data on German industrial production for June are due to be published on Friday.

Write to Maria Martinez at maria.martinez@wsj.com


Source link