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German Engineering Orders Stagnate in August

BERLIN, Oct 4 (Reuters) - German engineering companies' orders stagnated in August as orders from abroad, particularly the euro zone, offset a dip in domestic orders, the VDMA engineering association said.

August orders were at the same level as the same month last year, with domestic orders down 6% while foreign orders saw a 2% increase, the VDMA said on Tuesday.

"This is more than respectable considering the never-ending bottlenecks, price increases and uncertainties," said VDMA chief economist Ralph Wiechers.

Orders from the euro zone were especially strong in August, increasing 23%, while orders from outside the euro zone fell 5%, according to the VDMA.

In the three-month period from June to August, which was less affected by fluctuations, overall orders fell by 8%, with demand from Germany decreasing 11% and from abroad down 6%.

Reporting by Miranda Murray, editing by Rachel More

Source: Reuters

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