German Industrial Orders Gain 3 Percent

Increased foreign demand led to an unexpected 3 percent increase in orders for German products from June to July, the German Ministry of Economics announced Monday. German industry nearly made up May to June's 3.3 percent order slump. Domestic growth only accounted for 1 percent while foreign orders jumped 5.2 percent. The results are a 7.7 percent increase over the same period last year. While calling the increases a positive sign, many analysts expect the order index, which can be an early indicator of future economic health, to drop in the second half of the year due to falling exports and a weak German consumer demand.