German tool orders off to a good start

Injanuary2014, German machinery and tool orders were up 6% in real terms against last year's result. Domestic business rose by 2%, international business by 7% on a year earlier, the German Engineering Association (VDMA) reported in March.

According to the less volatile three-month comparison, November 2013 to January 2014, incoming orders increased by 2% on the prior year period.

Overall, Germany’s machine tool industry expects its production output to rise by 4% in 2014 to what will then be around €15.1 billion, driven principally by CAPEX in America and Asia.