BERLIN — German engineering exports will likely fall further in 2020 after dropping 1.5% in real terms in 2019, engineering industry association VDMA said on Thursday. VDMA said the mechanical engineer sector could not escape the impact of a weak industrial production worldwide, adding that international trade disputes, protectionism, Brexit and structural changes in the auto industry hit exports. "In view of the current mechanical engineering orders, a renewed decline in exports is likely for 2020 as a whole," VDMA economic expert Olaf Wortmann said in a statement. Coronavirus impact on exports to China cannot yet be estimated, but the virus risk will not alter the importance of the Chinese market to German engineering companies, VDMA added.

Source: International New York Times February 20, 2020 09:00 UTC