Pansen Macro: German industry will continue to face a sluggish momentum in the third quarter

On August 6th, Pan Sen Macro’s chief eurozone economist Claus Vistesen pointed out in a report that the 3.9% rise in factory orders in June, which brought comfort to the German industry, may be temporary. He said that factory orders in the second quarter fell by 1.3% month-on-month, which was much better than the 4.4% drop in the first quarter, but still not good overall. Looking ahead, the surge in capital goods orders in June by 9.2% will lead to mean regression in July, resulting in a decline in new orders in next month’s report. In addition, in line with the signals shown by the survey, the sluggish momentum in the coming months will continue to drag down production.