German industrial orders rise more than expected in June

German industrial orders rose more than expected in June, but it was due to large scale orders and the figure from the previous month was sharply revised downwards, showing that industry is not out of the woods.

Orders increased by 3.1% on the previous month on a seasonally and calendar adjusted basis, the statistics office said on Thursday. A Reuters poll of analysts had pointed to a rise of 0.3%.

Excluding large orders, new orders were 0.5% lower than in the previous month.

In the less volatile three-month comparison, new orders from April to June were 1.3% higher than in the preceding three months. However, excluding large orders, they remained unchanged.

In May, following a revision of the provisional results, orders rose by 0.3% compared with April, instead of 1.9%, due to an amended adjustment for price changes, the statistics office said.