March 5, 2018 / 9:04 AM / 3 months ago

Strong euro zone demand propels German engineering orders higher

    BERLIN, March 5 (Reuters) - German engineering orders jumped
14 percent in January from a year ago, driven by strong demand
at home and from euro zone partners, the VDMA industry group
said on Monday, a further sign that Europe's biggest economy is
on track for solid growth.
    Contracts for 'Made in Germany' goods from both domestic and
foreign customers jumped by 14 percent in real terms, VDMA said.
While orders from countries outside the euro zone climbed 10
percent, those from countries in the single currency area jumped
by 24 percent.
    In the less volatile November-January comparison, orders
growth was only slightly weaker, rising 12 percent on the year,
VDMA said, with domestic demand up 15 percent and foreign 10
percent higher.
    "The recovery process for domestic investments is clearly
continuing," said VDMA chief economist Ralph Wiechers.
                   
        JAN 2018                CHANGE 
         overall                +14 pct
     of which German            +14 pct
     foreign orders             +14 pct
         NOV-JAN                   
         overall                +12 pct
     of which German            +15 pct
     foreign orders             +10 pct
 
 (Reporting by Madeline Chambers
Editing by Michael Nienaber)
  
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