German’s machinery order intake down by half in February
Germany’s order intake on mechanical and plant engineering received in February, according to the country’s representing body VDMA, was down 49% year on year.
Statistics show foreign clients demand fell by 50%, while domestic demand decreased by 45%. From December 2008 to February 2009, the drop in orders amounted to 44%.
VDMA also estimates the machinery output will fall by between 10% and 20% in real figures this year, instead of 7%, a forecast the association made previously.