German VDMA June Plant, Machinery Orders Slump 46% On Year
By Nina Koeppen
Of DOW JONES NEWSWIRES
FRANKFURT (Dow Jones)--New orders for Germany's plant and machinery industry were sharply lower in June compared with the year-earlier period, indicating the country's much hoped for industrial recovery will be painfully slow.
Total orders slumped 46% in June on year, as domestic orders dropped 46% and foreign orders were down 45%, industry group VDMA said Thursday.
"The patience of engineers is being put to the test," said VDMA chief economist Ralph Wiechers.
"Domestic as well as foreign clients' concerns about their future liquidity are apparently still too large to allow for an easing," he added.
Web site: http://vdma.org
-By Nina Koeppen, Dow Jones Newswires; +49 (0)69 2972 5509; nina.koeppen@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=r05JYbuTcqPb0/8EHfXgbg==. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
July 30, 2009 04:00 ET (08:00 GMT)
http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=32c49c1f-eb5b-4fae-9775-2a5a2fe529e5
So far as to the German "Wunderwaffe" stimulus...
By Nina Koeppen
Of DOW JONES NEWSWIRES
FRANKFURT (Dow Jones)--New orders for Germany's plant and machinery industry were sharply lower in June compared with the year-earlier period, indicating the country's much hoped for industrial recovery will be painfully slow.
Total orders slumped 46% in June on year, as domestic orders dropped 46% and foreign orders were down 45%, industry group VDMA said Thursday.
"The patience of engineers is being put to the test," said VDMA chief economist Ralph Wiechers.
"Domestic as well as foreign clients' concerns about their future liquidity are apparently still too large to allow for an easing," he added.
Web site: http://vdma.org
-By Nina Koeppen, Dow Jones Newswires; +49 (0)69 2972 5509; nina.koeppen@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=r05JYbuTcqPb0/8EHfXgbg==. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
July 30, 2009 04:00 ET (08:00 GMT)
http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=32c49c1f-eb5b-4fae-9775-2a5a2fe529e5
So far as to the German "Wunderwaffe" stimulus...
