German engineering orders fall 3 percent y/y in AprilStaff Writer | June 1, 2017
German engineering orders fell 3 percent in real terms in April from the previous year, with a surge in demand from euro zone countries failing to offset a slump in contracts from domestic clients, the VDMA industry association said on Thursday.
Germany A surge in demand from euro zone
Domestic orders for machinery and other engineering products fell by 15 percent.
This decline is not a sign of a weakening economy, but is to a large extent due to special factors," VDMA economist Ralph Wiechers said.
"Due to some large-scale equipment orders, April 2016 was the strongest month of last year."
In the less volatile February-April comparison, orders fell by 1 percent on the year, VDMA said.
Domestic demand was down y 2 percent and foreign orders edged down 1 percent. ■