German industrial orders rise sharply in June

German industrial orders rise sharply in June

German industrial orders surged in June as Europe’s largest economy began to ease from the effects of the months-long lockdown due to the COVID-19 pandemic. However, volumes were still below levels as they were before the pandemic, data from the Statistics Office showed.

Orders surged to an adjusted 27.9% compared to May, which was more than double the 10.4% expansion recorded in the previous month. However, orders were still down by 11.3% to the levels recorded on February, which was considered as the last pre-crisis month.

Domestic orders grew 35.3%, outpacing orders from abroad which have expanded by 22% only. The recovery in automotive orders was the strongest, seeing orders rise by 66.5%. Though this is still 12.2% short of February’s level.

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