German industrial orders growth accelerates in June

Credit: REUTERS/RALPH ORLOWSKI

Orders for German-made goods rose sharply in June as Europe's largest economy began to shrug off the effects of months of coronavirus-induced lockdown, but volumes were still far below pre-pandemic levels, according to Statistics Office data.

BERLIN, Aug 6 (Reuters) - Orders for German-made goods rose sharply in June as Europe's largest economy began to shrug off the effects of months of coronavirus-induced lockdown, but volumes were still far below pre-pandemic levels, according to Statistics Office data.

Orders rose an adjusted 27.9% compared to the previous month, more than double the 10.4% expansion recorded in May, and well ahead of economists' expectations. But orders were still 11.3% below the level of February, the last pre-crisis month.

Domestic orders grew 35.3%, outpacing orders from abroad which expanded by only 22%. The recovery in automotive orders was particularly strong, with orders rising 66.5%, though this still left them 12.2% short of February's level.

(Reporting by Thomas Escritt; Editing by Maria Sheahan)

((thomas.escritt@thomsonreuters.com; +49 30 2888 5217;))

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