Unexpectedly More Orders for German Industry Due to Demand for Ships

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German industry unexpectedly received more orders in July. This was due to large foreign orders for German shipyards, calculated by the German federal statistical office Destatis.

 

This led to a plus of 3.4 percent. Without those large orders, the number of new orders would have decreased.

Economists had also generally expected a decline. The German industry is suffering from supply chain problems.

For example, there are chip shortages that hinder the car industry in particular but are filtering through to more and more sectors. But other materials are also scarce or have a longer delivery time due to problems with transport.

Factory orders in July were almost a quarter higher than in the same month a year earlier. At that time, the recovery from the corona crisis had only just started.

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