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Business

Exports Revitalize German Machine Building Industry

An dramatic increase in exports helped revitalize Germany's machine building and plant construction industries in 2002. Large spikes in new commissions from abroad, including a 16 percent surge in November over the same month the previous year, helped companies make up for a decline in domestic business, the German Engineering Federation reported on Wednesday. Still, overall production in 2002 fell by four percent and the industry is planning for zero growth in 2003 against the backdrop of the global economic downturn.