April 5, 2018 / 8:02 AM / 7 months ago

German engineering orders surge on high foreign demand

    BERLIN, April 5 (Reuters) - German engineering orders jumped
13 percent in February from a year ago, driven by strong
domestic and foreign demand, the VDMA industry group said on
Thursday, a further testimony to the health of the manufacturing
sector in Europe's biggest economy.
    Demand from domestic customers jumped by 11 percent in real
terms, VDMA said. Orders from countries outside the euro zone
climbed 16 percent, those from countries in the single currency
area jumped by 10 percent.
    In the less volatile December-January comparison, orders
growth was only slightly weaker, rising 11 percent on the year,
VDMA said. Domestic demand was up 12 percent and foreign orders
edged 11 percent higher.
    "Demand for high quality machines and plants by our clients
all over the world remains high," said VDMA chief economist
Ralph Wiechers. "We can only hope that the trade dispute between
the U.S. and China doesn't cause lasting damage to this
investment drive." 
                   
        FEB 2018                CHANGE 
         overall                +13 pct
     of which German            +11 pct
     foreign orders             +14 pct
         DEC-FEB                   
         overall                +11 pct
     of which German            +12 pct
     foreign orders             +11 pct
 
 (Reporting by Joseph Nasr
Editing by Caroline Copley)
  
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