Konjunktur: Deutsche Industrie verzeichnet größten Auftragseinbruch seit 2020
The German industry experienced a significant decline in orders at the beginning of the second half of the year, the largest drop in over three years. According to the Federal Statistical Office, new business decreased by 11.7 percent in July compared to the previous month. The last time there was a more pronounced decline was at the start of the COVID-19 crisis in April 2020. Economists surveyed by Reuters had only expected a decrease of 4.0 percent.
In June (+7.6 percent) and in May (+6.2 percent), there were significant increases, mainly due to large orders, especially from the aerospace industry. This time, these orders were not present.
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