December 4, 2019 / 9:04 AM / 2 days ago

German engineering orders fall 11% y/y in October - VDMA

    BERLIN, Dec 4 (Reuters) - German engineering orders fell by
11% in October year-on-year as many customers are holding back
on investments due to global economic worries, the VDMA industry
association said on Wednesday.
    "The latest signs of hope for an end to the German
industry's economic downturn are not yet having an effect on the
order books of mechanical engineering companies," VDMA's chief
economist Ralph Wiechers said in a statement.

           October                 CHANGE IN PERCENT
           overall                      -11% y/y
       of which German                  -13% y/y
               foreign                  -10% y/y
       August-October              CHANGE IN PERCENT
           overall                      -11% y/y
       of which German                  -11% y/y
           foreign                      -10% y/y
 
 (Reporting by Thomas Seythal, editing bz Thomas Escritt)
  
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