German industrial orders increased by 2.9% in July, mainly driven by vehicle and electrical equipment.

In July, German industrial orders rose by 2.9%, defying expectations of a 1.5% decline, with significant gains in vehicle construction (up 86.5%) and electrical equipment (up 18.6%). However, excluding large orders, overall orders fell by 0.4%. Foreign orders increased by 5.1%, while domestic orders were flat. Despite these positive trends, manufacturing turnover decreased by 2.3%, and the construction sector saw a sharp decline in August.