Falling export orders hurt Germany's key mechanical engineering sector in February, despite a slight increase in domestic orders, the industry federation said on Wednesday.
Incoming orders were unchanged in February compared with the same month in 2012, the VDMA association said, with domestic orders rising by 2.0 percent, while export orders fell by 1.0 percent.
"Domestic orders showed a small plus, thanks to a big-ticket order. Foreign business was hit by weakish demand from the euro partner countries, while orders from non-euro countries stagnated," said VDMA chief economist Ralph Wiechers.
Taking a three-month comparison to iron out short-term fluctuations, overall orders rose by 1.0 percent in the period from December to February, with foreign orders up 2.0 percent, while domestic orders declined by 1.0 percent, VDMA calculated.
Other News:
Weak export demand hits German machine-tool sector: VDMA
SKF released Notice of Annual General Meeting
Metallized Carbon launched a range of custom bearings for low viscosity liquids
BSA Panel: Where’s the Workforce?
SKF bearing factory in Ahmedabad, India awarded LEED Gold certification
Energy Conserving Coupling allows for misalignment, shaft growth
NKE is to introduce its Rolling bearings for industrial gearboxes at 2013 Motion, Drive and Automation
Siemens presents new Arpex all-steel high-performance couplings