Germany Factory Orders in July

Germany’s factory orders rose by 2.9% in July 2024, defying expectations of a 1.5% decline. This follows a revised 4.6% increase in June, marking the second consecutive month of growth. The rise was driven by large-scale orders for aircraft, ships, and trains and strong demand for electrical equipment. However, orders for machinery and equipment dropped by 6.1%. Foreign orders surged 5.1%, with gains in both Eurozone and non-Eurozone markets, while domestic orders remained flat. Excluding large orders, overall orders slipped by 0.4%.