Economic Buzz: German factory orders up by 2.5% in July

Seasonal and price-adjusted new factory orders in Germany rose 2.5% in July compared to the previous month, the country's Federal Statistical Office Destatis revealed in a report published on Friday.

Domestic orders climbed by 9.1% compared to June, while foreign orders dropped by 2.1%. New orders of intermediate goods jumped by 4.3%, while capital goods orders were up by 2.4%. On the other hand, orders of consumer goods plunged by 4.8% in the reported month.

On an annual basis, calendar-adjusted new factory orders surged 13.1% in July.

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