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Frankfurt / Main (dpa) - Germany's mechanical engineering companies started the year 2021 with fewer orders.
After three months in a row with single-digit growth at the end of 2020, orders in January 2021, adjusted for price increases (in real terms), remained ten percent below the volume of the same month last year, as the industry association VDMA announced.
"Since there were unusually high orders for large-scale plant business from Germany and abroad in January 2020, the bar for the previous year was very high," explained VDMA chief economist Ralph Wiechers.
In addition, some companies took longer plant holidays at the turn of the year.
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Domestic orders fell by 22 percent in January compared to the same month last year.
Foreign orders only fell by 5 percent.
Above all, the demand from Asia had a positive impact, according to the information.
In the less volatile three-month period from November 2020 to January 2021, incoming orders stagnated overall compared to the same period of the previous year.
6 percent fewer orders came from within Germany, but foreign orders increased by 3 percent.
In the Corona year 2020, the export-oriented German key industry recorded the sharpest drop in orders since the financial crisis.
Despite the recovery that began in autumn, orders fell by a total of 11 percent compared to the previous year.
© dpa-infocom, dpa: 210305-99-698992 / 2