Berlin, Jan 9 (Reuters) - German Plant and Equipment Makers' Orders Continued Their Downward Trend in November, the Vdma Association Said on Thursday, as Customers Remain Reluctant to Make New Investments.
Orders Overall Were Down 6% Year-on-Year in November in Real Terms, the Third Month in a Row of Decreases After a One-off Rise in August Broke a More Than Year-Long String of Falls.
Domestic Orders Were Down 4%, While Foreign Ones Tumbled 7%, With Vdma Economic Expert Ralph Wiechers Saying That a Slight Uptick in Orders From Within the EU Was Not Sufficient to Offset the Figure Overall.
"We Are Still Waiting for Impetus and Hope That the Propensity to Invest Will Finally Pick up in the Course of the New Year," Wiechers Said.
In the Less-Volatile Three-Month Period From September to November, Orders Were Down 7% Overall, With a 5% Fall in Domestic Orders and a 8% Fall in Foreign Ones.
November | Change |
Overall | -6% Y/Y |
Of Which German | -4% Y/Y |
Foreign | -7% Y/Y |
SEP to Nov | -7% Y/Y |
Of Which German | -5% Y/Y |
Foreign | -8% Y/Y |
(Reporting by Friederike Heine, Editing by Miranda Murray)
((Miranda.murray@Thomsonreuters.com;))
