Sharjah24 – Reuters: German industrial orders unexpectedly surged in July, official figures showed on Monday, hitting a post-reunification high and pointing to a solid start to the second half in the engine room of Europe's largest economy.
The figures published by the Federal Statistics Office showed orders for goods 'Made in Germany' rose by 3.4% on the month in seasonally adjusted terms. A Reuters poll of analysts had pointed to a fall of 1.0% on the month.
A breakdown of the data showed that domestic orders fell 2.5% on the month and foreign orders rose by 8.0%.
Orders from the euro area fell by 4.1%, while orders from the rest of the world rose by 15.7%, mainly due to large orders from the shipbuilding sector.
Bastian Hepperle, economist at Bankhaus Lampe, said: "The development in Germany is disappointing: the order books are still well filled and the order backlog is high."
"Due to a lack of materials and primary products, there are considerable difficulties in processing orders," he added.
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