February 6, 2018 / 9:01 AM / 16 days ago

Germany's vibrant economy pushes up engineering orders in Dec -VDMA

    BERLIN, Feb 6 (Reuters) - German engineering orders rose by
7 percent in December from the previous year, propelled by
strong domestic demand, the VDMA industry association said on
Tuesday, in a further sign that Europe's biggest economy is set
for solid growth. 
    Contracts for 'Made in Germany' goods from domestic clients
jumped by 11 percent in real terms, outpacing an increase in
foreign demand of 5 percent, VDMA said.
    In the less volatile October-December comparison, orders
were similarly robust, rising by 10 percent on the year, VDMA
said, with domestic demand rising 13 percent and foreign up 9
percent.
    VDMA chief economist Ralph Wiechers called the double-digit
surge in domestic bookings "especially pleasing". He noted that
over the full-year period, foreign demand had been stronger.
    "The next government needs to implement a growth-friendly
policy which guarantees that Germany is not blocking its way
into the future by neglecting investments," Wiechers said.
    In 2017 as a whole, engineering orders rose 8 percent, with
foreign demand jumping by 10 percent and domestic orders up 5
percent.
                   
        DEC 2017                CHANGE 
         overall                +7 pct
     of which German            +11 pct
     foreign orders             +5 pct
         OCT-DEC                   
         overall                +10 pct
     of which German            +13 pct
     foreign orders              +9 pct
 
 (Reporting by Michael Nienaber,)
  
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