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Germany Foreign orders remain strong
VDMA reports that the biggest momentum came from euro partner countries. An increase of 17 per cent was recorded in this region, while orders from the non-euro countries grew by 8 per cent.
VDMA, the German-based Mechanical Engineering Industry Association is one of the largest industry associations in Europe. The association reports that the biggest momentum came from euro partner countries. An increase of 17 per cent was recorded in this region, while orders from the non-euro countries grew by 8 per cent. “It is clear that business in the mechanical engineering industry is currently being driven by exports,” explained VDMA economics expert Olaf Wortmann.
Tracking the market
Domestic demand in October also grew by 7 per cent. “However, there were strong fluctuations during the entire year, which even included double-digit negative growth rates. A clear upwards trend cannot be identified,” says Wortmann.
Comparing the three-month period (August to October) to the same period last year revealed a 10 per cent rise in real terms in incoming orders. Foreign orders excelled with an increase of 13 per cent, while domestic orders rose by 6 per cent.
This article was first published on MM International.