Overview

• Orders excluding major contracts rose 0.7% in July, contrasting with the headline decline reported by the statistics office.
• New business in the “other vehicle” category—aircraft, ships, trains and military—slumped 38.6% after a surge in large June bookings.
• Foreign demand fell 3.1%, including a 3.8% drop from the eurozone and 2.8% from outside the bloc, while domestic orders declined 2.5%.
• In the May–July period, total orders edged up 0.2%, but fell 1.3% when large orders are stripped out, underscoring fragile underlying demand.
• June’s result was revised to a 0.2% decline from a previously reported 1.0% drop after an automaker’s correction, and authorities cite trade and geopolitical factors plus defense procurement swings for the ongoing volatility.