German industrial orders continued their downward trend in July
Industrial new orders in manufacturing decreased by 1.1% in July 2022 compared with June 2022, according to provisional results of the Federal Statistical Office.
Not including major orders, a 0.8% decrease in new orders was recorded in manufacturing. Compared with July 2021, new orders fell by a calendar adjusted 13.6% in July 2022. However, the order intake in the same month of the previous year had been exceptionally high.
It marked the sixth consecutive month of lower manufacturing orders, amid persistently high inflation and supply chain issues.
New orders in the domestic sector declined by 4.5% and in the euro area by 6.4% compared with the previous month. In contrast, the volume of new orders from the non-euro area rose by 6.5%.
The producers of capital goods recorded a decrease of 0.2% in July 2022 on the month before while producers of intermediate goods saw a rise in new orders of 1.5%.
Regarding consumer goods, orders went down by 16.9%. This was mainly due to a 23.6% decline in the volume of new orders for the manufacture of pharmaceutical products. In June 2022, however, new orders in this sector had increased by 10.3%.