The industry experiences its largest decline in orders since the outbreak of the coronavirus pandemic.

Montage bei Airbus: Großauftrag im ersten Halbjahr

Montage bei Airbus: Großauftrag im ersten Halbjahr

Foto: Christian Charisius/ dpa

The order situation in the German industry continues to fluctuate significantly. New business shrank by 11.7 percent in July compared to the previous month, according to the Federal Statistical Office. The last more significant decline occurred at the beginning of the coronavirus crisis in April 2020. In June (plus 7.6 percent) and May (plus 6.2 percent), strong increases were still recorded.

„I cannot reword“

„The industry remains a cause for concern.“

The orders in July increased by 0.3 percent, even when excluding large orders. In the less volatile three-month comparison, the order intake from May to July was 3.1 percent higher than from February to April. However, the Federal Ministry of Economics stated that this does not indicate a sustainable recovery in industrial activity due to the deteriorating business climate and weak global economy.

The Chief Economist of Hauck Aufhäuser Lampe Privatbank, Alexander Krüger, stated: „The industry remains a cause for concern, as the order books are significantly thinner compared to a year ago.“

Die Bestellungen aus dem Inland gaben im Juli um 9,7 Prozent zum Vormonat nach. Steigende Zinsen und hohe Energiepreise dämpfen derzeit die Nachfrage der heimischen Wirtschaft. Die Auslandsnachfrage nahm sogar um 12,9 Prozent ab, die aus der Eurozone dabei um 4,1 Prozent.

„I cannot reword“

Mehr zum Thema

In July, there were decreases in orders particularly in the fields of IT and optical devices (down 23.6 percent), electrical equipment (down 16.7 percent), and mechanical engineering (down 8.7 percent). On the other hand, there was an increase in orders in the automotive and automotive parts sector (up 2.7 percent), the chemical industry (up 0.5 percent), and metal production (up 1.0 percent).

Der reale Umsatz im Verarbeitenden Gewerbe fiel im Juli um 1,0 Prozent niedriger aus als im Vormonat. Im Juni hatte es einen Rückgang um 1,4 Prozent gegeben. »Die deutsche Industrie fällt damit weiterhin als Wachstumstreiber aus«, fasste Ökonom Zeuner die neuen Konjunkturdaten zusammen.

Ralph Solveen, an economist at Commerzbank, stated that the interest rate hikes by central banks may not have fully impacted the global demand for German goods yet. It is expected that the trend in order intake will likely decline in the coming months. This is likely to have a negative effect on production, with the industrial sector playing a significant role in the anticipated contraction of the German economy in the second half of the year.