German machine-tool orders fall in April
FRANKFURT: Falling foreign demand weighed on Germany's key mechanical engineering sector in April, the VDMA industry federation said Monday.
The manufacture of machine tools is a key driver of German industry and exports.
In April, overall incoming orders declined by two percent compared with the same month a year earlier, VDMA said in a statement.
Domestic orders were down three percent and export orders slipped by two percent, VDMA added.
Making a three-month comparison to iron out short-term fluctuations, VDMA said overall orders stagnated in the period from February to April.
Foreign orders edged up slightly by one percent in the three-month period, while domestic orders fell by three percent, VDMA calculated.
"The up and down in orders in recent months is continuing," said VDMA chief economist Ralph Wiechers.
"The three-month comparison also shows that the mechanical engineering sector has not managed to achieve any upward momentum as yet," Wiechers said.
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