In April, German industry felt the effects of the corona pandemic with sharp drops. Now the order books are filling up again – at record speed. Experts are surprised. Many new orders come from Germany in particular.
The order books of the German industry are filling at record speed after the end of the tough corona restrictions. Orders rose in June by 27.9 percent compared to the previous month, as the Federal Ministry of Economics has now announced. Economists had previously only expected an increase of 10.1 percent. In May there had already been an increase of 10.4 percent, which however followed a slump of 26.1 percent in April.
The recovery is "a big step forward," the ministry emphasized. Orders received had already returned to 90.7 percent of orders before the pandemic broke out in the fourth quarter of 2019. "However, orders from abroad are lagging behind domestic developments," the ministry said. "This shows why the further recovery process will progress more slowly."
Orders from Germany climbed by 35.3 percent in June, those from abroad by 22.0 percent. Orders from the euro area increased by 22.3 percent, those from the rest of the world by 21.7 percent.
Gross domestic product collapsed at a record pace in the second quarter due to measures to combat the spread of the corona pandemic. It was 10.1 percent lower than in the previous quarter. However, most experts expect a significant recovery in the current summer quarter.
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