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German Industrial Orders Unexpectedly Rise in July

Sept 5 (Reuters) - German industrial orders unexpectedly rose in July due to large scale orders, the federal statistics office said on Thursday.

Orders rose in July by 2.9% on the previous month on a seasonally and calendar adjusted basis.

A Reuters poll of analysts had pointed to a fall of 1.5%.

When large scale orders such as trains, ships and aircrafts are excluded, new orders in July were down 0.4% on the previous month. Large scale orders posted a 86.5% increase on the month.

The less-volatile three-month on three-month comparison showed that new orders were 1.7% higher in the period from May to July than in the previous three months.

The statistics office also revised the data for June to a 4.6% increase on the month, up from a previous figure of 3.9%.

New foreign orders rose by 5.1% on the month, while domestic orders remained unchanged, the statistics office said.

Reporting by Andrey Sychev and Maria Martinez, editing by Miranda Murray

Source: Reuters


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