Real (price adjusted) new orders in manufacturing were down 11.7% in July 2023 month on month after seasonal and calendar adjustment, according to provisional figures of the Federal Statistical Office (Destatis). The big fluctuations in new orders seen in the past months therefore continued to be observed in July 2023. After revision of the provisional results, new orders in June 2023 increased by 7.6% compared with May 2023 (provisional figure: +7.0%). The less volatile three-month on three-month comparison showed that new orders were 3.1% higher in the period from May to July 2023 than in the previous three months. ... (full story)