January 10, 2018 / 9:02 AM / a year ago

Domestic demand boosts German engineering orders in Nov - VDMA

    BERLIN, Jan 10 (Reuters) - German engineering orders jumped
by 14 percent in real terms in November from the previous year,
propelled by a surge in domestic demand, the VDMA industry
association said on Wednesday.
    Contracts for 'Made in Germany' goods from domestic clients
soared by 20 percent while foreign demand rose by 12 percent,
VDMA said.
    In the less volatile September-November comparison, orders
were similarly robust, rising by 12 percent on the year, VDMA
said, with domestic and foreign demand both up by 12 percent.
    From January to November, production in engineering rose by 
3 percent year-on-year, the association said.
    "This corresponds exactly with our association forecast,"
VDMA chief economist Ralph Wiechers said, adding the sector was
on track to achieve its production target.
            
        NOV 2017                CHANGE 
         overall                +14 pct
     of which German            +20 pct
     foreign orders             +12 pct
        SEPT-NOV                   
         overall                +12 pct
     of which German            +12 pct
     foreign orders             +12 pct
 
 (Reporting by Michael Nienaber,)
  
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