06 September 2012 14:13 [Source: ICIS news]
Germany's economics ministry said that the month-to-month improvement in orders in July was mainly driven by domestic orders while export orders remained flat.
However, the ministry added that orders from the eurozone seemed to have stabilised.
July’s increase came after a revised 1.6% decline in orders in June from May.
On a two-month sequential comparison – June/July versus April/May – industrial orders were down 1.0%. Compared with June/July 2011, orders were down 6.1% year on year.
In a related release on Thursday, Germany’s central bank, the Bundesbank, said that its monthly index for orders in Germany’s chemicals and pharmaceuticals sector rose to 101.6 in July, from 98.4 in June.
For the second quarter, the bank’s index for orders in the chemicals and pharmaceuticals sector was 99.4, compared with 98.7 in the 2012 first quarter and 102.4 in the second quarter of 2011.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog
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