German factory orders rise in July driven by foreign demand

Markets Associated Press

The German Economy Ministry says factory orders increased in July, driven by foreign demand, primarily from within the eurozone.

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The ministry said Tuesday that industrial orders were up 0.2 percent on June, according to seasonally adjusted figures.

Domestic orders actually dropped 3 percent, but that was offset by a 2.5-percent increase in foreign orders including a 5.9 percent increase from within the eurozone. Orders from outside the bloc of countries using the euro currency rose 0.6 percent over June 2016.

July's increase comes after a 0.3 percent decrease in June, and a 0.1 percent increase in May.

Overall, new orders have been relatively flat this year, which the ministry says suggests "rather quiet industrial activity in the fall."