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German factory orders rose 2.5% on month in July, marking the third straight month of gains. The data adds support for a tentative industrial recovery despite surging energy prices and ongoing Middle East conflict.
Germany’s factory orders increased in July, driven by demand for ships, railway rolling stock and aircraft manufacturing, according to official data. The print was faster than expectations after a previously revised gain.
German factory orders in July rose 2.5% month-on-month, extending a third straight month of gains. The data points to a tentative industrial recovery despite surging energy prices and ongoing Middle East conflict.
Germany’s July factory orders increased 2.5% month-on-month, compared with 3.7% in June. The June figure was revised from 3.1%.
U.S. factory orders rose 0.9% month-over-month in July, compared with estimates for a 0.7% gain.