German manufacturing orders fall for seventh straight month

by:Gewinn     2022-05-22
The latest data released by the German Ministry of Economy and Technology showed that, excluding price and seasonal factors, German manufacturing orders in June fell by 2.9% from the previous month, much lower than the market forecast of a 0.4% increase. This is the seventh consecutive month of declines in German manufacturing orders. In addition, revised data showed that German manufacturing orders fell by 1.4% in May, of which orders from abroad fell sharply by 5.1%, especially those from other countries in the euro zone fell the most, reaching 7.7%. Analysts said higher energy and food prices had led to sharp increases in manufacturing costs in Germany, while a strong euro and a slump in the world economy had weakened demand elsewhere. German manufacturing is facing the twin challenges of rising costs and falling demand.
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