Emerging markets still hungry for German machinery

Orders of German plant and machinery grew by 43 percent in November

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A concert hall in Hamburg being built but domestic demand is dwarfed by expoorts

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Orders of German plant and machinery grew by 43% in November with demand in Asia leading the emerging markets.

Orders for exports leapt by 53%, way ahead of domsestic demand despite strong growth of 23 percent.

According to the German VDMA machine makers’ association, in the three months through November, demand rose 34% from the year-earlier period.

Previous months had seen machine tools starting to catch-up, but there has been acceleration in exports construction equipment, agricultural machinery and power plant. Although VDMA’s VDMA Chief Economist Ralph Wiechers said that orders were still down by 20% on 2008 levels.

For the year ahead, production of German machinery is expected to grow by 8%.
 

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