By Todd Buell
New orders in June for Germany's plant and machinery industry fell 1%
on the year in real terms, industry group VDMA said Wednesday.
Domestic orders rose in June by 3%, the group said, but foreign orders
dipped by an equal amount. Orders from within the euro zone, excluding
Germany, rose by 18%. This was due partly to base effects, but also to
some bulk orders, VDMA economist Olaf Wortmann said in a press
release.
Orders in the second quarter of the year, were 6% lower than in the
same period a year earlier. Domestic orders for the period were down
7% while foreign orders were 5% lower. Over the first half of the year
orders were down by 7% in yearly terms, with domestic orders down 7%
and foreign orders down 6%, VDMA said.
The VDMA, or Verband Deutscher Maschinen--und Anlagenbau, is a German
engineering federation which represents around 3,000 mainly small to
medium sized engineering industry companies.
Write to Todd Buell at: todd.buell@dowjones.com
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(END) Dow Jones Newswires
August 01, 2012 04:00 ET (08:00 GMT)
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