German plant and machinery orders rose in October, supported by domestic demand, the VDMA machine- makers’ association said.
Orders, adjusted for inflation, rose 1 percent from a year earlier after increasing at the same pace in September, the Frankfurt-based VDMA said in an e-mailed statement today. Domestic orders rose 5 percent, while orders from abroad fell 1 percent. In the three months through October, overall orders climbed 5 percent from a year earlier.
“The slump in orders expected by some still hasn’t happened,” Ralph Weichers, VDMA chief economist, said in the statement. “The continued deceleration in demand for machinery could primarily be due to cyclical factors.”
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