German machinery orders jump 13% in September

German machinery and equipment orders rose sharply in
September because of strong foreign demand, according to dpa.
Orders climbed by 13 per cent in September compared with the same
month last year, the German Engineering Association (VDMA) said after
several months of weak figures.
Foreign orders grew by 24 per cent, as a result canceling out a
9-per-cent slump in domestic demand, the VDMA said.
"Once again business was boosted by numerous major orders," said VDMA
chief economist Ralph Wiechers, adding that the bulk of the orders
came from countries outside the 18-member eurozone
Based on a three-month comparison, which helps to smooth out
short-term fluctuations, machinery orders rose by 5 per cent
year-on-year between July and September when compared with the same
period in 2013.
Domestic orders gained 1 per cent, while international orders
increased by 6 per cent, VDMA said.