German Machinetool Orders Down in October

German Machine-tool Orders Down in October

Dec. 2, 2013
Orders were down by 10% compared to last year, with export orders tumbling by 14% and domestic orders down by 2%.

FRANKFURT -- Falling export demand dented Germany's key mechanical engineering sector in October, the VDMA industry federation said Monday.

The manufacture of machine tools is an important part of Germany's industrial and export performance.

Overall incoming orders were down by 10% % in October compared with the level in same month in 2012,  with export orders tumbling by 14% and domestic orders down by 2%.

"The decline in foreign orders is primarily attributable to slim demand from non-euro members and is possibly a reaction to currency turbulence in a number of developing countries," said the federation's chief economist Ralph Wiechers.

"Orders from the euro partner countries fared better," he added.

Taking a three-month comparison to iron out short-term fluctuations, overall orders were down by 4% in the period from August to October, with foreign orders falling by 8%, while domestic orders rose by 6%, VDMA calculated.

Copyright Agence France-Presse, 2013

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!