October 1, 2014 / 8:03 AM / 3 years ago

Germany's VDMA sees engineering production up 2 pct in 2015

BERLIN, Oct 1 (Reuters) - Germany's VDMA engineering
association expects production in the sector to rise 2 percent
next year with growth in the United States and China more than
compensating for what is expected to be subdued demand from
France and Italy. 
    In July, the VDMA cut its outlook for 2014 production growth
to 1 percent from a previous estimate of 3 percent, blaming the
Ukraine crisis. 
    "The uncertainties about further economic developments are
high, the risks are not to be underestimated," said VDMA chief
economist Ralph Wiechers, noting however that growth in big
export markets and a low euro exchange rate would help German
engineering firms. 
    The United States, China and other emerging markets were on
a growth path but he said problems in France and Italy would
dampen demand from within Europe.
    The VDMA also said engineering orders stagnated in August
with contracts from abroad down 9 percent and domestic demand up
19 percent. Over the past three months, orders are up 3 percent
on an annual basis.

 (Reporting by Madeline Chambers; Editing by Noah Barkin)

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