German mechanical engineering industry in November at previous year’s
The latest figures from the VDMA show that incoming orders for the German mechanical engineering industry in November 2018 were at the previous year’s level.23 Jan. 2019 Barbara Rusch
Dr. Ralph Wiechers, Chief Economist at the German Mechanical Engineering Industry Association (VDMA), describes the situation: “It is apparently becoming increasingly difficult for companies to top the already high order intake figures of the previous year.” According to the latest figures from the VDMA, in November 2018 the German mechanical engineering industry recorded a slight increase of 2% in foreign orders, which was, however, offset by a decline of 3% in domestic orders. Orders from the eurozone increased by 1% in November, orders from non-euro countries by 3%.
In a three-month comparison from September through November 2018, orders were up 4% year-on-year in real terms. Both domestic and foreign orders increased by 4%, with orders from the eurozone growing by 3% and orders from non-euro countries by 4%.
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