Germany June industrial orders +7.0% vs -2.0% m/m expected | Forexlive

• Prior +6.4%; revised to +6.2%

That’s back-to-back large increases in factory orders in Germany, but there is a big caveat to take note of. A big chunk of the rise in industrial orders in May and now June is stemming from remarkably large individual orders i.e. anything more than €50 million. This is again the main culprit and they can be rather volatile so it is hard to identify if it is a one-off or not. If you strip out large orders from the reading, industrial orders actually fell by 2.6% on the month in June.