German plant and machinery orders dropped in December on weaker foreign demand, reflecting a slowdown of the global economy, the VDMA machine makers’ association said. Orders, adjusted for inflation, fell 10 percent from a year earlier after declining 12 percent in November, which was the first annual drop in almost two years, the Frankfurt-based VDMA said in an e-mailed statement today. Domestic orders were unchanged, while export orders slumped 14 percent. In the fourth quarter, orders dropped 7 percent from a year earlier. Plant and machinery orders increased 10 percent in 2011, VDMA said. Source: bloomberg.com
Source:
http://www.bloomberg.com/news/2012-02-02/german-machinery-orders-declined-in-december-on-foreign-demand.html
