German Industrial Orders Rise Sharply in June but Sector Uncertainty Remains
June Industrial Orders: Analysis and Sector Outlook
By Maria Martinez
Stronger-than-Expected Growth Driven by Large Scale Orders
Aug 6 (Reuters) - German industrial orders rose more than expected in June, but it was due to large scale orders and the figure from the previous month was sharply revised downwards, showing that industry is not out of the woods.
Monthly Performance and Analyst Expectations
Orders increased by 3.1% on the previous month on a seasonally and calendar adjusted basis, the statistics office said on Thursday. A Reuters poll of analysts had pointed to a rise of 0.3%.
Impact of Large Orders and Underlying Trends
Excluding large orders, new orders were 0.5% lower than in the previous month.
Three-Month Comparison and Sector Stability
In the less volatile three-month comparison, new orders from April to June were 1.3% higher than in the preceding three months. However, excluding large orders, they remained unchanged.
Revisions and Data Adjustments
In May, following a revision of the provisional results, orders rose by 0.3% compared with April, instead of 1.9%, due to an amended adjustment for price changes, the statistics office said.
(Reporting by Tristan Veyet in Gdansk and Maria Martinez in Berlin, Editing by Miranda Murray and Linda Pasquini)