27.03.2013 In February 2013 German machinery and tool orders achieved a growth rate of plus/minus zero which exactly matched last year's level. Domestic sales recorded a two percent growth and demand from abroad dropped by one percent compared to prior-year level, the German Engineering Association (VDMA) reported on Wednesday in Frankfurt.

The less volatile three-month comparison, December 2012 to February 2013, showed a one percent growth on a year earlier. Domestic orders slumped by one percent while foreign orders climbed two percent.

"In February 2013 German machinery and tool orders exactly matched last year's level. Domestic orders recorded slight growth thanks to a major order.  Business with foreign customers suffered from weak demand among Euro- partner countries while orders from non-Euro countries stagnated. All in all, the industry reported a slight minus in foreign orders. This means that business activities still are, more or less, unspectacular and have a clear focus on protecting margins. This is also reflected in the order backlog which again reached 5.8 months, exactly the level of last October," VDMA Chief Economist Ralph Wiechers said when interpreting the result.

Do you have any further questions? Dr. Ralph Wiechers, VDMA Chief Economist, Tel +49 69 6603 1371, will be pleased to respond.