Overview
- Destatis reported on Wednesday that real manufacturing orders rose 0.8% from May and 9.3% from June last year, lifting the price‑adjusted backlog to its highest level since the series began in 2015.
- The backlog would cover 8.9 months of production at recent sales rates, a measure called Reichweite that shows how long firms could work without new orders.
- Gains in June were concentrated in data‑processing, electronics and optical goods (+4.6% month‑on‑month) and in machinery (+0.9%), with domestic orders up 1.2% and foreign orders up 0.6%.
- Economists warn that extreme heat and low Rhine water are already creating supply and transport bottlenecks that could slow order fulfilment and keep capacity use weak.
- Structural pressures persist as industrial employment is down about 144,100 workers year‑on‑year and firms report rising international competitive strain, which could limit a durable recovery in output and exports.