Germany’s Machinery Makers Feeling The Economic Crunch

Germany’s makers of heavy machinery and factory equipment said they expected job losses and a decreased demand for their products this year due to the world economic crisis, the Associated Press reports.

Germany remains the world’s largest exporter, with its machinery and cars still leading the way, but declining sales, especially at car companies, have been severe. The German Federal Statistical Office reported a sharp drop in exports in December by 8%, despite a preliminary 2.8% increase in exports for all of 2008.