30 July 2003, 12:07  German June engeneering orders down 9% y/y

BERLIN, July 30 - German plant and equipment orders fell by nine percent year-on-year in June on a sharp fall in foreign demand, engineering association VDMA said on Wednesday. Export orders sank by 13 percent year-on-year, while domestic orders fell by one percent year-on-year. In May, domestic orders rose four percent while foreign orders sank six percent year-on-year. "These figures mark a weak end to the first half," VDMA chief economist Ralph Wiechers said in a statement. Orders fell three percent in the first half, dampening hopes for the full year, he said. Foreign orders had fallen strongly in June possibly due to the after-effects of the SARS disease and the weakness of the dollar, he said. Plant and equipment orders are a small component of overall manufacturing orders in Germany. Official orders data for June are due to be released by the Economy Ministry on August 6.

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