Germany's Machine and Plant Sector Raises Forecasts

German production of plants machinery is expected to reach 158 billion euros in 2006, up 7% from 145 billion euros in 2005, predicted by the German Engineering Federation (VDMA). The new value is an increase of 3 billion euros compared with the September estimate. The federation also forecast the production of plants and machinery will continue to grow by some 4% in 2007 in the wake of a solid performance by the country's economy. In the first 10 months, foreign plant and machinery orders climbed 14% from a year ago, while domestic orders surged 21%, said the VDMA.