Key machinery sector doubles output

29th June 2004, Comments 0 comments

29 June 2004 , FRANKFURT - German machine-builders said Tuesday they are doubling their production projections for 2004 as the global economic pickup fuelled a surge export orders. The machinery builders' federation VDMA in Frankfurt said that in May, export orders had powered ahead by 34 percent compared with May 2003 levels. With domestic orders up 4 percent year-on-year, the overall order book volume growth in the month was 26 percent, the sixth straight month of annualised growth in Germany's key indus

29 June 2004

FRANKFURT - German machine-builders said Tuesday they are doubling their production projections for 2004 as the global economic pickup fuelled a surge export orders.

The machinery builders' federation VDMA in Frankfurt said that in May, export orders had powered ahead by 34 percent compared with May 2003 levels.

With domestic orders up 4 percent year-on-year, the overall order book volume growth in the month was 26 percent, the sixth straight month of annualised growth in Germany's key industrial sector.

The VDMA said that with the growth figures, German machinery output in 2004 is now projected to rise by 4 percent, double the previous projection.

In three-month figures to compensate for short-term one-off factors, German machinery orders in the March-May period were 26 percent higher than in the same 2003 period, the VDMA reported.

"Large industrial deals have again boosted the order volume," commented VDMA economist Ralph Wiechers. "Now the spark must jump over here at home."

About 70 percent of the business of German machine-builders is accounted for by exports.

DPA

Subject: German news

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