DE40 ticks higher after upbeat industrial orders data

German industrial orders mom actual 3.9% (forecast 0.5%, previous -1.6%)

Real (price adjusted) new orders in manufacturing were up 3.9% in June 2024 month on month after seasonal and calendar adjustment. Previously, new orders had declined for five months in a row.

The positive development of new orders in manufacturing in June 2024 was mainly attributable to the substantial increase seen in the automotive industry (+9.3% on the previous month), increases recorded in the “manufacture of fabricated metal products” sector (+9.8%) and the "manufacture of other transport equipment" sector (aircraft, ships, trains; +11.7%)

Germany's DAX rose briefly after the orders data was released. Source: xStation

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