German engineering orders stagnate in August
Reuters
Published Oct 04, 2022 04:05AM ET
Updated Oct 04, 2022 05:00AM ET
BERLIN (Reuters) - German engineering companies' orders stagnated in August as orders from abroad, particularly the euro zone, offset a dip in domestic orders, the VDMA engineering association said.
August orders were at the same level as the same month last year, with domestic orders down 6% while foreign orders saw a 2% increase, the VDMA said on Tuesday.
"This is more than respectable considering the never-ending bottlenecks, price increases and uncertainties," said VDMA chief economist Ralph Wiechers.
Orders from the euro zone were especially strong in August, increasing 23%, while orders from outside the euro zone fell 5%, according to the VDMA.
In the three-month period from June to August, which was less affected by fluctuations, overall orders fell by 8%, with demand from Germany decreasing 11% and from abroad down 6%.
August CHANGE
overall 0% y/y
of which German -6% y/y
foreign +2% y/y
June-August
overall -8% y/y
of which German -11% y/y
foreign -6% y/y
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.