Germany's machine tool orders fell 4% year-on-year in October

The German Machinery Manufacturers Association (VDMA) said: "The decline in export demand in October affected the major mechanical engineering sector in Germany."

Machine tool companies are a major part of the German industrial and export industry.

In October this year, orders fell by 10% year-on-year, exports fell by 14%, and domestic orders fell by 2%.

Ralph Wiechers, chief economist at VDMA, said: "The main reason for the decline in foreign orders is the reduction in demand from non-euro countries and the currency turmoil in some developing countries." But he added: "Orders from euro-zone countries It is very good."

According to the statistics of the German Machinery Manufacturers Association, from August to October, except for short-term fluctuations, total orders for three months fell by 4% year-on-year, while foreign countries fell by 8%, while domestic prices rose by 6%. (Excerpt from "German Machine-tool Orders Down in October", translation: Ma Yanping)

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