February 6, 2018 / 9:09 AM / 10 months ago

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

BERLIN (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.

Reporting by Michael Nienaber,

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