Mechanical engineering
VDMA: Slight decline in incoming orders
Incoming orders in the German mechanical engineering sector also fell in July, although the rate of decline slowed compared to the previous months, the VDMA announced.
Orders fell short of the previous year's level by three percent in real terms, with domestic orders dropping by four percent and orders from abroad by three percent. "This means that July's figures were less bleak - a small respite. However, the trend continues to point downwards and business and export expectations remain pessimistic in view of the economic and political risks for the second half of the year," said VDMA Chief Economist Dr. Ralph Wiechers.
Orders from euro countries were positive in July, increasing by three percent compared to the previous year. In contrast, orders from non-euro countries were down five percent. In a three-month comparison from May to July 2019, orders were eight percent down on the previous year in real terms. Domestic and foreign orders both recorded a drop of eight percent, with orders from euro countries falling by nine percent and orders from non-euro countries down seven percent. as
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