Mechanical engineering industry in Germany: Orders remain under pressure
by Hans Diederichs
"Incoming orders in the mechanical engineering sector remain under pressure, the sector recorded its fourth consecutive minus in March," explained VDMA Chief Economist Dr. Ralph Wiechers. Orders from abroad fell short of the previous year's level by 8 per cent. While orders from euro partner countries (minus 3 per cent) were slightly down in March, orders from non-euro countries fell significantly by 9 per cent despite large plant business. "However, the losses in Germany in the month under review were particularly strong at 15 per cent. The export-driven German industry cannot decouple itself from global uncertainty," said Wiechers.
The ten percent drop in orders in the three-month period from January to March also reflects the current restraint of many customers in the mechanical engineering sector. Domestic orders fell by 7 per cent and orders from abroad by 11 per cent. Orders from the euro countries shrank by 14 per cent, while orders from non-euro countries fell by 10 per cent.
Source: VDMA /Photo: Shutterstock