German VDMA June Plant, Machinery Orders Slump 46% On Year By Nina Koeppen Of DOW JONES NEWSWIRES FRANKFURT (Dow Jones)--New orders for Germany's plant and machinery industry were sharply lower in June compared with the year-earlier period, indicating the country's much hoped for industrial recovery will be painfully slow. Total orders slumped 46% in June on year, as domestic orders dropped 46% and foreign orders were down 45%, industry group VDMA said Thursday. "The patience of engineers is being put to the test," said VDMA chief economist Ralph Wiechers. "Domestic as well as foreign clients' concerns about their future liquidity are apparently still too large to allow for an easing," he added. Web site: http://vdma.org -By Nina Koeppen, Dow Jones Newswires; +49 (0)69 2972 5509; nina.koeppen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=r05JYbuTcqPb0/8EHfXgbg==. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires July 30, 2009 04:00 ET (08:00 GMT) http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=32c49c1f-eb5b-4fae-9775-2a5a2fe529e5 So far as to the German "Wunderwaffe" stimulus...
I've been reading since the middle of the April (Industrial Exhibition in Hannover) on how German machinery sector has bottomed and they're seeing light at the end of the tunnel