VDW
Strong demand from the USA and China
Despite supply bottlenecks and the economic consequences of the war in Ukraine, the order books of German machine tool manufacturers have filled up considerably in the first half of the year. Nevertheless, many uncertainties remain.
Orders increased by 34% compared to the same period last year, including price increases (nominal), according to the German Machine Tool Builders' Association (VDW). "In terms of the first half of the year, the volume is almost at the record level of 2018," said VDW Executive Director Wilfried Schäfer. However, uncertainty is growing.
According to the information provided, manufacturers abroad benefited above all from continued strong demand in China and the USA. The coronavirus lockdown in Shanghai and other cities in China did not have a major impact in the second quarter, said Schäfer. Overall, orders in the period from April to June rose by 24% compared to the same period last year. Domestic orders increased by 27% and orders from abroad by 23%.
However, due to supply bottlenecks and material shortages, orders cannot always be processed at the usual pace. This is reflected in turnover. In the first half of the year, it was 7% higher than in the same period last year. Adjusted for price increases (in real terms), turnover stagnated. "As feared, the supply chain problems are therefore far from over," said Schäfer.
In view of the economic uncertainties, the mood in the machine tool industry has recently deteriorated, according to the data. There is no end in sight to Russia's war against Ukraine, said Schäfer. The energy supply in the coming fall and winter remains uncertain. In addition, there are signs of weak overall economic growth in China.
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