📋 Tender Overview
According to the Federal Statistical Office 1 incoming orders fell by 1.1 in July compared to the previous month. As a result of the Russian war of aggression in Ukraine this has been the sixth consecutive decline. 2 Orders were thus 13.6 below the level of a year earlier.Decisive for the decrease in July compared to the previous month were fewer orders for capital and above all consumer goods -0.2 and -16.9 respectively. Producers of intermediate goods on the other hand reported growth of 1.5. 4.5 fewer orders were received from Germany. Foreign demand increased by 1.3 overall with a 6.5 increase in orders from the non-euro zone and a 6.4 drop in orders from the euro zone.The important areas of motor vehicles motor vehicle parts and mechanical engineering recorded decreases in incoming orders by 0.3 and 4.1 respectively. Other vehicle construction once again reported a sharp decline of 21.9. Electrical equipment increased significantly 18.7 while pharmaceuticals and chemical products also reported significant decreases -23.6 and -5.7 respectively.In view of the war and the high gas prices the development of demand in the manufacturing sector was also weak at the beginning of the third quarter. For industrial companies the outlook for the second half of the year remains subdued which is also reflected in a cooler business climate and cautious export expectations.
