Demand for German machinery and tools up eight percent in Q3

According to German Engineering Federation (VDMA), in September this year demand for German machinery and tools rose one percent compared to the same month of last year, as domestic orders were two percent lower, while foreign demand was up three percent, both compared to September 2010. Meanwhile, in the third quarter of the year demand for German machinery and tools showed an increase of eight percent year on year, with domestic demand rising 13 percent and foreign demand up five percent.
 
"The industry continues to grow," said VDMA chief economist Ralph Wiechers, though noting that growth was dampened by slowing economic activity.