0859 GMT [Dow Jones]--German industry group VDMA reported Thursday that machinery exports were down 0.9% in the first quarter of the year in annual terms. Export declines in the so-called BRIC states, especially in Russia, were almost fully offset by good demand from the U.S. and rising exports to EU partner states, the group said. The announcement comes on the same day as a key survey showed that the German economy was continuing to rebalance toward more domestic demand and away from exports. Germany's statistics office will report a break-down of 1Q GDP in a release due at 0600 GMT Friday. (todd.buell@wsj.com, @ToddBuell)
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(END) Dow Jones Newswires
May 22, 2014 04:59 ET (08:59 GMT)
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