Mechanical and plant engineeringVDMA dampens expectations for 2019
At the VDMA's economic press conference, association president Carl Martin Welcker lowered the production forecast for the German mechanical and plant engineering industry. The reason for this is the smouldering trade disputes between the world's major economic blocs.
... the United States is narrowly ahead of the People's Republic of China. The association assumes that American customers will continue to invest in the automation of their production this year, among other things. However, the positive effects of the US corporate tax reform are gradually diminishing. In China, the second-largest single market, the VDMA also expects economic momentum to weaken. However, the Chinese government's determination to implement the "Made in China 2025" master plan should ensure further investment and thus export opportunities. "However, the risk of a further intensification of the trade dispute between China and the USA hangs over everything," Welcker qualified. "We hope that the situation will de-escalate soon."