VDMA
Double-digit growth in mechanical engineering orders continues
The recovery in the German mechanical engineering sector after the coronavirus crisis year 2020 is continuing. Nevertheless, the uncertain situation in the supply chain is making the VDMA more vigilant.
In October, incoming orders adjusted for price increases (in real terms) rose by 19% compared to the same month last year. Domestic orders increased by 13%, while orders from abroad grew by 23%, as the industry association VDMA announced in Frankfurt on Thursday. In spring and summer, however, the increases were even higher in some cases.
"On the one hand, customers' pent-up demand has largely been satisfied. On the other hand, we already recorded an increased order level in October of the previous year," explained VDMA Chief Economist Ralph Wiechers. Now it is a matter of implementing the orders within a reasonable period of time, "because companies are still having to contend with numerous bottlenecks". Like other industrial sectors, export-oriented mechanical engineering companies are also suffering from a shortage of raw materials and preliminary products such as semiconductors.
The mechanical engineering association recently confirmed its forecast for the current year, according to which production is expected to grow by 10% in real terms compared to the previous year, which was impacted by the coronavirus crisis. "But the uncertain situation in the supply chains is also increasingly worrying us," said association president Karl Haeusgen.
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