FRANKFURT (AP) -- An industry group says German machinery orders were down 3 percent on the year in January but foreign demand is improving.
The VDMA group said Thursday that domestic demand fell 17 percent on the year but orders from abroad were up 6 percent.
The overall dip in January followed an 8 percent year-on-year increase in orders in December -- the first rise in more than a year. Orders fell by a hefty 38 percent over the whole of 2009 compared with the previous year.
VDMA says overall orders for machinery and factory equipment were down 3 percent on the year for the three-month period from October to January. Domestic demand fell 10 percent while foreign demand was up 2 percent.
