Incoming orders in the mechanical engineering sector down in November: VDMA
In November 2014, incoming orders in the mechanical engineering industry in Germany were down ten percent on the previous year. The VDMA German Engineering Association recently announced in Frankfurt that domestic business fell by nine percent and international business was down 11 percent year-on-year.
Based on a three-month comparison, which is less affected by short-term fluctuations, incoming orders rose by three percent year-on-year between September and November 2014. Domestic orders were down six percent, while international orders increased by seven percent.
“After five months, incoming orders fell short of the previous year for the first time in November – by as much as a tenth. Orders from euro area partner countries were the only glimmer of hope. Overall, November is to be seen as a setback,” stated VDMA chief economist Dr Ralph Wiechers with regard to the result.
