German factory orders rise 2.8% in July

EPA-EFE / PHILIPP GUELLAND

Seasonally and price-adjusted new factory orders in Germany rose 2.8% in July compared to the previous month, the country's Federal Statistical Office Destatis revealed in a provisional report on Friday. The number of new orders fell 7.3% compared to the same month a year earlier.

Foreign orders went up 14.4% in July compared to the previous month, while domestic orders fell by 10.2%. New orders from the euro area jumped 7.3% as new orders from other countries climbed 19.2% compared with June.

Orders at Germany's factories jumped by a record amount in June as the country emerged from its coronavirus shutdown.

Breaking the News / JC