German engineering orders decline in September, association says

German plant and equipment makers’ orders fell in September, after a one-off rise in August, the VDMA association said on Thursday, as a double-digit fall in domestic contracts were cushioned by those from abroad remaining stable.

Overall, orders were down 4 per cent in real terms on the year in September, following a 7 per cent rise in August.

Domestic orders last month tumbled 16 per cent while foreign contracts remained stable thanks to the help of large-scale plant business.