VDMAMachinery exports get off to a good start to the year
Machinery exports by German machinery and plant manufacturers rose by a nominal 13.8% year-on-year to EUR 51.3 billion in the first quarter. The fly in the ointment: adjusted for prices, machinery exports only rose by 4.4%.
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<p>VDMA Chief Economist Dr. Ralph Wiechers: "The pleasing growth in exports is partly driven by inflation and partly due to the fact that supply chains have eased in many areas. As a result, machine and plant manufacturers are finally able to supply many of their customers and are reducing their high order backlogs."</p>
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