VDMA
Disappointing order situation
The German mechanical and plant engineering sector closed the first half of 2024 with a double-digit decline. In June, orders were again down by nine percentage points in real terms.
machinery and plant engineering. Orders fell by 9% in real terms overall. The drop in domestic orders was 8%, while orders from abroad fell by 10%. Orders from the euro countries fell more sharply: the drop here was 12%. There were 8% fewer orders from non-euro countries.
VDMA Chief Economist Dr. Ralph Wiechers commented on the figures: "The order situation is disappointing overall. This means that the balance for the first half of the year is clearly negative. A turnaround is not yet in sight, and what's more, the economic stabilization that was still emerging at the beginning of the year has recently suffered a setback."
VDMA calls for "supply-oriented policy for more investment and innovation"
The bottom line for the first half of 2024 was a year-on-year decline in incoming orders of 12% in real terms. From January to June inclusive, domestic orders fell by 18%, with 9% fewer orders coming from abroad (euro countries: minus 14%, non-euro countries: minus 7%). "To ensure that the first signs of a foreign-driven cyclical recovery are not thwarted, particularly in Germany, a consistent supply-oriented policy for more investment and innovation is required. The German government's growth initiative already contains a number of helpful measures in this regard. We must continue in this direction persistently and at a real German pace," summarizes the VDMA chief economist.
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