May 7, 2020 / 8:14 AM / a month ago

TABLE-German engineering orders drop 9% in March- VDMA

    BERLIN, May 7 (Reuters) - German engineering orders fell 9%
in March from the previous year, industry association VDMA said
on Thursday, warning that the impact of the coronavirus crisis
on the sector would only be seen in the coming months. 
    Orders fell 2% in the first quarter of 2020, with domestic
orders rising 1% and foreign bookings dropping 4%.
    "At the beginning of the year, we were still hoping for a
better year - early indicators had pointed to that. But then the
pandemic happened," VDMA's chief economist Ralph Wiechers said
in a statement.
    
            March                  CHANGE IN PERCENT
           overall                      -9% y/y
       of which German                  -2% y/y
               foreign                  -12% y/y
        January-March              CHANGE IN PERCENT
           overall                      -2% y/y
       of which German                    +1%
           foreign                      -4% y/y
 
 (Reporting by Berlin Speed Desk)
  
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