German June industrial orders rise more than expected in June

Excluding large-scale orders, new orders were 0.5% lower than in the previous month, while the May increase was revised to 0.3% from a previously reported 1.9% as a result of an adjustment for price changes.

Several large-scale orders were reported in the machinery and equipment manufacturing sector, which showed a 12.7% increase in orders, and the computer, electronics and optics manufacturing sector, where orders jumped 22.7%, the statistics office said.

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

German industrial orders rose more than expected in June, but owed their jump to large-scale orders and a downward revision of the previous month's figure, data showed on Thursday, leaving analysts cautious about the economy's underlying strength.