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German engineering orders fall 11% y/y in October - VDMA

BERLIN, Dec 4 (Reuters) - German engineering orders fell by 11% in October year-on-year as many customers are holding back on investments due to global economic worries, the VDMA industry association said on Wednesday. "The latest signs of hope for an end to the German industry's economic downturn are not yet having an effect on the order books of mechanical engineering companies," VDMA's chief economist Ralph Wiechers said in a statement. October CHANGE IN PERCENT overall -11% y/y of which German -13% y/y foreign -10% y/y August-October CHANGE IN PERCENT overall -11% y/y of which German -11% y/y foreign -10% y/y (Reporting by Thomas Seythal, editing bz Thomas Escritt)