Signs of Recovery: Demand for German-made Orders on the Rise

Europe's largest economy appears to be showing signs of recovery according to latest economic data. Orders for goods manufactured in Germany

Signs of Recovery: Demand for German-made Orders on the Rise

Europe’s largest economy appears to be showing signs of recovery according to latest economic data. Orders for goods manufactured in Germany registered a sharp increase during the month of June, indicating signs of rebound in the aftermath of the pandemic.

According to data released by the Statistics Office, German-made goods orders increased by 27.9% MoM in June, significantly higher than the 10.4% rise seen during May. However, orders for such goods remain 11.3% lower than the highs seen back in February, before the coronavirus pandemic struck across the world.

The improvement in orders was driven mainly by an increase in domestic demand. Domestic orders were up by 35.3% while orders from overseas rose by only 22%. Automotive orders increased by 66.5% in June, but remained around 12.2% lower than pre-pandemic levels of February.

However, the mood remains cautious in anticipation of a possible reimposition of lockdowns as the number of cases continue to rise. According to a magazine poll, 80% of Germans expect the government to reintroduce lockdowns and restrictions in order to contain the spread of the pandemic.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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