VDMA - 1st half of 2022
Growing restraint in mechanical and plant engineering
The mechanical and plant engineering sector in Germany reported a small increase of 2% in incoming orders in the first half of the year. Although customers are still keen to invest, there is a growing reluctance to do so.
Nominal turnover in the mechanical and plant engineering sector in Germany grew by 7% in the first half of 2022, reports the VDMA. A small increase of 2% in incoming orders is mainly due to foreign orders. VDMA Chief Economist Dr. Ralph Wiechers: "Many customers still want to invest in new machines and systems, even if restraint is increasing."
For the second quarter of 2022, companies recorded a year-on-year decline in orders of 2% in real terms. Domestic orders fell by 8% from April to June inclusive, while orders from abroad increased by 1%. The euro countries increased their orders by 3% in this period, while orders from non-euro countries stagnated.
In June, incoming orders fell by 9% in real terms compared to the same month last year. There were 11% fewer orders from Germany and 8% fewer orders from abroad. With a drop of 18%, orders from euro countries fell more sharply than those from non-euro countries (-4%). "As sentiment indicators have deteriorated significantly in recent months, the drop in June is hardly surprising," says Wiechers. Disruptions in global supply chains continue to weigh on business, as well as order cancellations due to the war in Ukraine.
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