Feb. 2 (Bloomberg) -- 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.
--With assistance from Kristian Siedenburg in Budapest. Editors: Simone Meier, Jennifer M. Freedman
-0- Feb/02/2012 09:00 GMT
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