Slump in German engineering orders sees no signs of a turnaround - VDMA ...Middle East

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Slump in German engineering orders sees no signs of a turnaround - VDMA
Their latest finding shows that German engineering companies' order books took yet another sharp tumble in November, falling by 13% year-on-year. That sees a return to a double-digit fall after October's 5% decline. In the period from September to November, orders were down by 12% year-on-year with the split showing domestic orders falling by 17% and foreign orders declining by 11%.VDMA comments that "there is still no sign of this downturn bottoming out, as our customers worldwide would first have to regain confidence in foreseeable growth and stable political processes". This article was written by Justin Low at www.forexlive.com.

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