Mechanical engineering industry orders better than previous year: VDMA
In October 2014, incoming orders in the mechanical engineering industry in Germany were up seven percent on the previous year. The VDMA (German Engineering Association) recently announced that domestic business increased by one percent and international business was up nine percent year-on-year.
Based on a three-month comparison, which is less affected by short-term fluctuations, incoming orders rose by seven percent year-on-year between August and October 2014. Domestic orders rose by three per cent, while international orders increased by eight per cent.
“The German economy is evidently more robust than was expected a few weeks ago. As such, our figures for October are an encouraging sign. But we should not let ourselves become overconfident on this basis. A stabilisation is not the same thing as an upturn,” stated VDMA chief economist Dr Ralph Wiechers with regard to the result.
