DE40 unchanged after upbeat industrial orders data

German industrial orders MoM actual 2.9% (forecast -1.7%, previous 3.9%)

Real (price adjusted) new orders in manufacturing were up 2.9% in July 2024 month on month after seasonal and calendar adjustment. This follows a revised increase of 4.6% in June 2024 (previously reported as 3.9%).

The positive development of new orders in manufacturing in July 2024 was mainly attributable to the substantial growth in the "manufacture of other transport equipment" sector (aircraft, ships, trains, military vehicles), where new orders were up 86.5% on the previous month due to several large-scale orders. The growth recorded in the manufacture of electrical equipment (+18.6%) also had a positive effect. However, the "manufacture of machinery and equipment" sector saw a decline of 6.1%, which had a negative impact on overall performance. New orders in the capital goods and intermediate goods sector were up 3.5% and 4.4%, respectively, in July 2024 on the previous month. By contrast, new orders in the consumer goods sector were down 5.8% compared with a month earlier.

Source: xStation