Data published by the Federal Statistical Office (Destatis) showed that factory orders fell by 0.4% in June after falling by 0.2% in May (revised from +0.1%). Economists had expected a 0.8% decline. Meanwhile, excluding large orders, factory orders increased by 0.4% compared to May.
Destatis reported that the June drop was due to a reduction in new orders from non-eurozone countries by 4.3% compared to May. The total number of foreign orders decreased by 1.4%. On the contrary, the volume of new orders from the eurozone increased by 3.4%, while the volume of domestic orders increased by 1.1%.
In terms of sectors, orders in the capital goods sector fell 1.8% from May, while orders in the intermediate goods sector rose 1.2%. Meanwhile, orders in the consumer goods sector increased by 1.7%.
The data also showed that real turnover in manufacturing (seasonally and calendar adjusted) increased by 3.0% compared with May 2022. Compared with June 2021, turnover was a calendar adjusted 3.4% higher.