BERLIN, Sept 4 - German industry orders fell by 0.1 percent month-on-month in July, the Economy and Labour ministry said on Thursday, undershooting analysts' consensus forecast for a 0.6 percent rise. "A slight upwards correction of the preliminary data is expected," the ministry said in a statement. Exports fell 1.5 percent during the month, despite a weakening of the euro against the dollar which made German goods abroad slightly cheaper, while domestic orders were up 1.1 percent in July. The forecast range in a poll of 14 economists was wide, between a fall of 1.3 percent and a rise of 1.8 percent .
Year-on-year, orders were down 0.6 percent, according to calculations, compared with a consensus forecast for a rise of 0.1 percent. Orders are an important indicator of future economic developments because they gauge demand for German goods. Intermediate goods orders were up 1.8 percent in July, with domestic orders up 0.4 percent and foreign orders up 4.0 percent. Capital goods orders fell 2.1 percent in July, with foreign capital goods orders down five percent and domestic orders up 1.4 percent. Consumer goods orders were up 2.3 percent, with foreign demand up 1.7 percent and domestic orders up 2.6 percent. The ministry originally reported the June orders index at 96.2. This was later revised up by the Bundesbank to 96.3.//