December 4, 2017 / 9:01 AM / 11 days ago

German engineering orders rise 9 pct in October - VDMA

    BERLIN, Dec 4 (Reuters) - 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.
          
        OCT 2017                CHANGE 
         overall                +9 pct
     of which German            +7 pct
     foreign orders             +10 pct
         AUG-OCT                   
         overall                +10 pct
     of which German             +6 pct
     foreign orders             +13 pct
 
 (Reporting By Michael Nienaber; Editing by)
  

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