German Engineering Body Cuts 2014 Output Forecast On Ukraine Crisis - Yahoo Finance

August 1, 2014

Please enter a valid phone number. Please enter your Phone Number. Send Thanks! A link has been sent. Done German engineering body cuts 2014 output forecast on Ukraine crisis 17 hours ago Content preferences Done BERLIN, July 31 (Reuters) - Germany's VDMA engineering body on Thursday cut its outlook for 2014 production growth to 1 percent from a previous internet estimate of 3 percent due to the Ukraine crisis which it said was creating business risks and uncertainty among investors. "The conflict with Russia is not only leaving its mark on bilateral trade - it is generally reducing demand in important sales markets for our industry. The business mood has darkened in many countries," said VDMA chief economist Ralph Wiechers. VDMA said that despite orders increasing by 8.0 percent in June, German engineering orders were stagnant on average in the first half of the year.

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