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German Machine Orders Dropped in January on Weak Domestic Demand

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Feb. 28 (Bloomberg) -- 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.

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

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