Germany’s Manufacturers Order Backlog Falls in June

Germany's manufacturers order backlog fell for the sixth month in a row in June, in another sign of the sluggish state of Europe's largest economy. According to the German Federal Statistical Office, German manufacturers saw a 0.2 percent decrease in orders in June, in price-adjusted terms, compared with the previous month, and a 6.2 percent decrease from June last year. Order backlog fell particularly in the mechanical engineering and the automotive sectors, which declined 0.9 percent and 0.7 percent respectively compared to May. This marks the 17th consecutive monthly decrease in the automotive sector. Unfulfilled orders from domestic customers were up 0.6 percent in June, recording the first increase since February, but orders from abroad fell 0.7 percent. Source: Qatar News Agency