VDMA
Slowed recovery!
The economic momentum in the mechanical and plant engineering sector is increasingly gaining momentum. However, supply bottlenecks are limiting higher growth and coronavirus continues to throw a spanner in the works.
Production value in the German mechanical engineering sector
© Federal Statistical Office, VDMA
VDMA President Karl Haeusgen is focusing on climate protection: "The Paris climate targets can only be achieved with new technologies from the mechanical and plant engineering sector - companies must see this as an opportunity for future business.
© VDMAA sharp rise in incoming orders, improved capacity utilization and an increase in production of 6.0% in real terms in the first four months of the current year: the VDMA is currently reporting an upturn in economic momentum in the mechanical and plant engineering sector. "An unusually low prior-year base, but also a strong global industrial economy, are helping us to achieve high growth rates. The mechanical and plant engineering sector is also benefiting from extensive economic stimulus and growth packages in key sales markets," said VDMA President Karl Haeusgen at a press conference organized by the Wirtschaftspresse München club.
The VDMA is therefore increasing its real production forecast for 2021 from the previous real plus 7 percent to plus 10 percent. However, Haeusgen explained that the strength and breadth of the upswing would result in a variety of obstacles to production. "Supply bottlenecks in particular are not only causing us a lot of work, but are also slowing down our growth. In addition, there is still sand in the gears in many places due to the pandemic, which is affecting us in the form of travel restrictions, for example," he emphasized.
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