German Machine-tool Orders up in January
German machinery and tool orders were up six percent in real terms against last year’s result. Domestic business rose by two percent, international business by seven percent on a year earlier, the German Engineering Association (VDMA) reported recently in Frankfurt.
According to the less volatile three-month comparison, November 2013 to January 2014, incoming orders increased by two percent on the prior year period. Domestic orders averaged at minus three percent and foreign orders at plus five percent.
“The upturn in mechanical engineering is still a tender plant. Both, the significantly improved business climate in the euro zone and the strong demand from non euro countries are encouraging. Bad tidings from some emerging economies, however, continue to fuel uncertainties, and most recently the Crimea crisis. A political solution of the conflict would be highly desirable, not least in view of a sustainable recovery of the world economy ”, VDMA Chief Economist Dr Ralph Wiechers said when interpreting the result.
