German machinery orders pick up in July

Domestic demand accelerated in the lead up to a volatile August

Faber & Schnepp Hoch und Tiefbau purchased a Wolffkran 6031.8 clear flat-top crane in July
Faber & Schnepp Hoch und Tiefbau purchased a Wolffkran 6031.8 clear flat-top crane in July

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Domestic orders for German machinery accelerated by 20% while exports increased by 3% in July, the German machinery organisation the VDMA has confirmed.

In the three months through July, orders climbed 10% from the year earlier. Starting from the final quarter of 2010, sales of German machinery had been enjoying sequential growth, but with the euro-zone suffering a volatile month in August, July could signal the end of three-month period increases for now.

“A slight decline in orders from euro-area partners weighed on exports,” VDMA chief economist Ralph Wiechers said before adding that the figures confirm that “the period of roaring growth is coming to an end."

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