New orders for machinery and plant engineering in Germany decreased at a slower rate in May, data from the Frankfurt-based German Engineering Federation (VDMA) showed Tuesday.
Overall machinery orders, in real terms, declined 6 percent on an annual basis in May, notably slower than the 11 percent fall recorded in April.
Domestic orders dropped 8 percent annually during the month, while that from foreign countries decreased 4 percent, data showed.
During three months ended May, machinery orders dipped 6 percent over the same period of the last year, with domestic and intentional orders falling 9 percent and 5 percent respectively, the agency said.
by RTT Staff Writer
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