The German Engineering Federation continues to be dissatisfied: incoming orders in March fell short of expectations.
The domestic business of the German mechanical and plant engineering sector rose by 13% in March 2014, while demand from abroad fell by 13%. This is shown by current figures from the German Engineering Federation (VDMA). Overall, the order volume was thus 6% below the previous year’s level. The quarterly outlook looks more positive: In the period from January to March, orders were only 2% lower than in the previous year.
Even if the significant decline of 13% in international business is distorted by a high prior-year figure, VDMA Chief Economist Dr. Ralph Wiechers remains dissatisfied: “However, business with foreign customers remains sluggish.” At least domestic business was able to grow again compared to February. www.vdma.org
