Breaking News

QIC Ltd. Sells Queensland Motorways for A$7.06b to Consortium
Tweet TWEET

German VDMA Machinery Orders Decline for Ninth Month in July

German plant and machinery orders declined for a ninth month in July as domestic demand slumped, the VDMA machine-makers’ association said.

Orders, adjusted for inflation, fell 2 percent from a year earlier after dropping an annual 1 percent in June, the Frankfurt-based VDMA said in an e-mailed statement today. Domestic orders fell 18 percent, while orders from abroad rose 8 percent. In the three months through July, orders rose 2 percent from the same period last year.

Impulses for foreign orders “didn’t only come from overseas but also from euro-member countries,” Ralph Wiechers, VDMA’s chief economist, said in the statement. The decline of domestic orders is partially due to a high level of orders last year, he said.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.