German engineering orders rise 9 percent in October – VDMA

German engineering orders jumped by 9 percent in real terms in October from the previous year, driven by strong demand from abroad, the VDMA industry association said on Monday.

Contracts for ‘Made in Germany’ goods from foreign countries climbed 10 percent, while domestic demand rose by 7 percent.

“The upswing in mechanical engineering is clearly propelled by exports,” said VDMA economist Olaf Wortmann.

Domestic demand had catched up in October, Wortmann said. But it remained to be seen if this trend would continue also in the coming months, he added.

In the less volatile August-October comparison, orders rose by 10 percent on the year, VDMA said. Domestic demand was up by 6 percent and foreign orders jumped by 13 percent.
Source: Reuters (Reporting By Michael Nienaber)

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