German Machine Orders Fell in January as Domestic Demand Waned
German plant and machinery orders declined for a third month in January, reflecting weaker domestic demand, the VDMA machine-makers’ association said.
Orders, adjusted for inflation, fell 6 percent from a year earlier after declining an annual 10 percent in December, the Frankfurt-based VDMA said in an e-mailed statement today. Domestic orders fell 9 percent, while export orders slipped 4 percent. In the three months through January, orders fell 9 percent compared to the same period a year ago.
“There are signs that orders are stabilizing,” VDMA chief economist Ralph Wiechers said in the statement. “That doesn’t mean there won’t be negative numbers in the coming months.”
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