Berlin, August 6 (Xinhua) — According to data released by the German Federal Statistical Office on the 6th, after adjustment for seasonal and working-day effects, new industrial orders in Germany rose 3.9% month-on-month in June, ending a decline that had lasted for five consecutive months.
German media noted that the increase in new industrial orders in June was due to a marked strengthening of domestic demand. Data show that domestic new industrial orders rose 9.1% month-on-month that month, while foreign new orders grew only slightly by 0.4%. New orders from within the eurozone fell 0.3% month-on-month, while new orders from outside the eurozone rose 0.9% month-on-month.
The Federal Statistical Office pointed out that in June, new orders in Germany's automotive industry rose 9.3% month-on-month, new orders in the metal products manufacturing industry rose 9.8% month-on-month, and new orders in the manufacturing of other transport equipment such as ships, aircraft and trains rose 11.7% month-on-month, all of which had a positive impact on the growth of new industrial orders.
German media noted that economists warned against regarding this positive change as the dawn of economic development. In the second quarter of this year, new industrial orders in Germany fell 1.4% month-on-month. The Ifo business climate index has recently fallen for three consecutive times, which raises a huge question mark over the economic recovery in the second half of the year that many economists had expected.
The German Federal Ministry for Economic Affairs and Climate Action said in a statement the same day that current signs may herald growth in investment in the second half of the year. However, given that business sentiment remains subdued and external demand remains weak, a full recovery of Germany's industrial economy is still unlikely in the short term.
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