This growth is fed equally from domestic and foreign sources. Last year, production in the German mechanical engineering sector increased by a "meagre" 0.1% in real terms to around 203 billion euros, while exports rose by 0.2% (nominal) to just under 156 billion euros. "All in all, we expect 2017 to be a year of growth. If the current positive sentiment, as reflected in numerous leading indicators, continues and proves to be true, things could even turn out better than we forecast. But there is no guarantee of this, because the opportunities are also offset by many risks that could slow us down again," said VDMA President Carl Martin Welcker.

The stagnation in 2016 was not a purely German phenomenon: According to an estimate by VDMA economists, turnover in the international mechanical engineering sector fell by 1% in nominal terms in 2016 compared to the previous year. Thanks to slight growth in China, there was a "small real increase of 1%" globally.

Positive impetus could come from both Germany and abroad this year. Emerging and developing countries are a key reason for this. A recovery in commodity prices is contributing to this, as are successful structural reforms in some countries. For example, exports to Russia could increase again slightly in 2017, while exports to India could even grow somewhat more strongly than in 2016. There are signs of at least "temporary stabilization" in China. On the American market, the economy has already picked up - "But we have to wait and see whether this will lead to a permanent increase in machine purchases. After all, we still don't know what economic policy US President Trump will actually implement or what protectionist measures he wants to and ultimately can enforce," Welcker emphasized.

For deliveries to the European Union's partner countries, the VDMA expects a moderate continuation of growth in 2017 - excluding the United Kingdom.

In Germany, the largest market, the signs are pointing to slight growth. "Many companies in Germany have been reluctant to invest in recent years because there were and are numerous risk factors for the global economy. These risks have certainly not diminished in recent months. However, there are now an increasing number of investment projects that simply can no longer be postponed. The results of the Ifo Investment Survey, according to which fixed asset investments in the manufacturing sector are set to rise by 5% in 2017, also fit in with this."