Germany's VDMA reports a 11% drop in engineering orders in October from the previous year

Author: Justin Low | Category: News

Germany's engineering body VDMA with more rough news for the manufacturing sector in the country

Germany
In the middle of this year, factory orders were down by about 3% y/y so this is continuing to show some extended worries for the German manufacturing sector in Q4.

VDMA notes that domestic orders are down 13% while foreign orders are down by 10% relative to a year ago. On the worsening trend, they mention that many customers are holding back on investments due to global economic worries; adding that:

"The latest signs of hope for an end to the German industry's economic downturn are not yet having an effect on the order books of mechanical engineering companies."
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