German Engineering Orders Surge in June
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German engineering companies reported a sharp increase in orders in June, with a 21% rise in real terms compared to the same period last year. The surge was driven by strong demand from countries outside the eurozone, particularly in the machinery and equipment sector (+12.7%) and the manufacture of computers, electronic and optical products (+22.7%). The increase was also boosted by large-scale orders for the German Armed Forces and infrastructure projects. However, orders from Germany and the eurozone decreased by 2% and 8% respectively. The positive trend continued into the second quarter, with an 8% increase in orders compared to the previous year.
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