German industrial orders unexpectedly drop in July

By Maria Martinez

(Reuters) -German industrial orders unexpectedly fell in July due to a drop in large-scale orders, data showed on Friday.

German industrial orders declined by 2.9% on the previous month on a seasonally and calendar-adjusted basis, the federal statistics office said on Friday.

A Reuters poll of analysts had pointed to a rise of 0.5%.

When large-scale orders are excluded, new orders were 0.7% higher than in the previous month.

The less volatile three-month on three-month comparison showed that new orders in the period from May to July were 0.2% higher than in the previous three months.

After revision of the provisional data, new orders in June decreased by 0.2% on the month, instead of falling by 1.0%. The revision is due to corrected data reported by a large enterprise in the automotive industry.

(Additional reporting by Daria Bogdanska in Gdansk, editing by Thomas Seythal and Rachel More)

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