German Exports Rise in July, Imports Increase

German Industry Surprisingly Continues to Rise

New orders for the German industry have unexpectedly increased further, driven by major orders and the automotive industry. The revision of previous month's figures shows a stronger increase, signaling a positive development after a continuous decline. The figures from the Federal Statistical Office have exceeded analysts' expectations. In the three-month comparison, there has been a positive growth. Despite the stabilization, important sentiment indicators have dimmed, suggesting a cautious outlook for the industrial economy in the future. The July order intake for the German industry in Wiesbaden has risen by 2.9%, with major orders in the 'other vehicle construction' sector being the main driver. The three-month comparison reveals growth and the revised figures from the previous month are higher than expected. The annual comparison also shows a positive trend, with a 3.7% increase. Analysts had anticipated a decline, making the data from the Federal Statistical Office (Destatis) a pleasant surprise. However, the machine engineering sector experienced a decline in orders. While the foreign orders increased by 5.1%, the domestic orders remained unchanged. The positive trend in orders suggests a stabilization, but weak foreign demand and declining industry sentiment indicate a persistently weak industrial economy.