Germany Factory Orders: June 2023 Data
The German Federal Statistical Office (Destatis) has shared preliminary data on factory orders for June. According to the data, orders for products manufactured in Germany increased by 3.9% in June compared to the previous month. However, it was observed that these orders decreased by 11.8% compared to June 2022.
Market analysts had forecast a 0.4% monthly increase in factory orders. However, it was noteworthy that the data released exceeded these expectations. Over the past five months, there had been a general decline in factory orders.
The main reason for the increase in orders in June was determined to be the automotive sector. This sector recorded a 9.3% increase in orders compared to the previous month. This positive performance of the automotive industry is considered an important sign for the general economic outlook.
- June 2023 Data:
- Order increase compared to the previous month: 3.9%
- Order decline compared to June 2022: 11.8%
- Market expectation: 0.4% increase
- Automotive sector order growth: 9.3%
