FOREX TradingCharts.com

Financial News: Decline In German Factory Orders Deepens In July

Decline In German Factory Orders Deepens In July

09/06/2022 - 05:06:00 (RTTNews)

(RTTNews) - Germany's factory orders declined at a faster pace in July on weak domestic and euro area demand, official data revealed on Tuesday.

Factory orders declined 1.1 percent month-on-month in July, bigger than June's revised 0.3 percent decrease, Destatis reported. This was the biggest fall since April, when orders decreased 1.7 percent.

Orders have been falling since February. Economists had forecast a monthly fall of 0.5 percent.

Domestic orders logged a monthly decline of 4.5 percent, while factory orders gained 1.3 percent. A decline of 6.4 percent in orders from the euro area was offset by the 6.5 percent increase in non-euro area demand.

Excluding major orders, new orders dropped 0.8 percent from the previous month.

The producers of capital goods logged a decrease of 0.2 percent in July, while demand for intermediate goods grew 1.5 percent.

On the other hand, orders for consumer goods plunged 16.9 percent mainly due to a 23.6 percent decline in demand for pharmaceutical products.

On a yearly basis, factory orders logged a sharp fall of 13.6 percent after easing 9.0 percent in June.

Further, data showed that turnover in manufacturing decreased 1.8 percent month-on-month in July, reversing a 3.4 percent rise in June.

Shrinking order books add to current recession fears, ING economist Carsten Brzeski, said. With surging energy prices and fading new orders, the outlook for the German industry is anything but rosy, the economist added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Ireland Jobless Rate Remains Stable In September (06 hr(s), 59 min(s), 10 sec(s) ago)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story»

Brazil Industrial Production Falls As Expected (07 hr(s), 16 min(s), 10 sec(s) ago)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story»

U.S. Services Index Indicates Slightly Slower Growth In September (07 hr(s), 22 min(s), 10 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story»

U.S. Trade Deficit Narrows To Smallest In Over A Year In August (07 hr(s), 36 min(s), 10 sec(s) ago)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story»

Philippines Inflation Highest In 4 Years (07 hr(s), 38 min(s), 10 sec(s) ago)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story»

U.S. Private Sector Job Growth Slightly Exceeds Estimates In September (07 hr(s), 42 min(s), 10 sec(s) ago)
(RTTNews) - Private sector employment in the U.S. increased by slightly more than expected in the ...Full Story»

Brazil Services Growth At 16-Month Low (07 hr(s), 46 min(s), 10 sec(s) ago)
(RTTNews) - Brazil's service sector activity expanded at the weakest pace in the current 16-mo ...Full Story»

UK Car Registrations Rise For Second Month: SMMT (08 hr(s), 24 min(s), 10 sec(s) ago)
(RTTNews) - UK car registrations increased for the second straight month in September, data from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Ireland Jobless Rate Remains Stable In September

10/05/2022 - 10:58 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story>>

Brazil Industrial Production Falls As Expected

10/05/2022 - 10:41 AM (RTTNews)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story>>

U.S. Services Index Indicates Slightly Slower Growth In September

10/05/2022 - 10:35 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story>>

U.S. Trade Deficit Narrows To Smallest In Over A Year In August

10/05/2022 - 10:21 AM (RTTNews)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story>>

Philippines Inflation Highest In 4 Years

10/05/2022 - 10:19 AM (RTTNews)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.