German plant and machinery orders declined in January on weak domestic demand, signaling that the economic recovery will be bumpy.
Orders, adjusted for inflation, fell 2 percent from a year earlier after increasing an annual 4 percent in December, the VDMA machine-makers’ association said in Frankfurt today. Domestic orders dropped 7 percent, while foreign demand rose 1 percent. Orders were unchanged in the three months through January, it said.
German production of plant and machinery will increase 2 percent this year, VDMA forecast on Dec. 13.