Germany July factory orders -11.7% vs -4.0% m/m expected

<ul><li>Prior +7.0%; revised to +7.6%</li></ul><p>Yowza. That headline screams like a shocker but things need to be put into context. As noted last month <a href="https://www.forexlive.com/news/germany-june-industrial-orders-70-vs-20-mm-expected-20230804/" target="_blank" rel="follow">here</a>, factory orders in Germany saw staggering jumps in both May and June due to large individual orders i.e. anything more than €50 million. That has caused a volatile spike in the data and now we're sort of course correcting for that as those orders are passed i.e. one-time off. If you strip out the impact of large orders, industrial orders in Germany was actually up 0.3% on the month in July.</p>

This article was written by Justin Low at www.forexlive.com.