Germany remains the European locomotive despite all the headwinds that its economy has been facing recently. Any other country would have been stuck in crisis under similar conditions, whereas the German economy seems to be resilient enough to withstand the pressure. Be it scorching heat, freezing frost, or even Russian sanctions - no factor can stop the economic growth. Germany is doing fine without energy from Russia, and it has even managed to rein in the inflation pace that galloped amid the sharp increase in energy prices. The latest reports indicate a positive trend in the economic development. According to the figures provided by Destatis, this June, the industrial orders grew a whopping 7% which was the biggest increase in the past three years. This brilliant performance offset a decline seen in spring. Notably, the increase in June was fueled by a massive order in the aerospace industry and other big public orders.
Experts note that it is premature to forecast a full recovery in German industrial growth. The level of business activity in the manufacturing sector could be higher, as it still suffers from low demand from China, the world's second-largest economy. Some analysts anticipate that the total volume of production in Germany is likely to decline at the end of June compared to the results of the first quarter.
