German new manufacturing orders fell -2.9% MoM and -3.4% YoY in July 2025, reflecting sharp transport equipment volatility and weaker foreign demand.

• Excluding large-scale orders, new manufacturing orders rose +0.7% MoM, though the 3Mo3M trend was slightly positive at +0.2% overall and -1.3% excluding large orders.

• Orders for other transport equipment plunged -38.6% MoM after a June surge, while electrical equipment dropped -16.8%; automotive orders rose +6.5%, partly offsetting declines.

• By category, capital goods orders fell -2.4% MoM, intermediate goods -5.3%, while consumer goods rose +4.3%.

• Foreign orders decreased -3.1% MoM (euro area -3.8%, non-euro area -2.8%), and domestic orders fell -2.5%.

• Manufacturing turnover rose +0.9% MoM (+2.3% YoY), following a +1.4% MoM increase in June, showing stronger sales despite order weakness.