Orders down 10% in November

The German Engineering Association (VDMA) announced in Frankfurt on Tuesday that domestic business fell by 9% and international business was down 11% year-on-year.

However, in the first ten months of the year, production of machinery and plants in Germany was up 1% year-on-year in real terms, VDMA announced in December.

 Based on a three-month comparison, which is less affected by short-term fluctuations, incoming orders rose by 3% year-on-year between September and November 2014. Domestic orders were down 6%, while international orders increased by 7%.

“After five months, incoming orders fell short of the previous year for the first time in November – by as much as a tenth. Orders from euro area partner countries were the only glimmer of hope. Overall, November is to be seen as a setback,” commented VDMA Chief Economist Dr. Ralph Wiechers.

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