VDMA
No signs of a trend reversal yet
For the first time since October last year, the decline in orders in the mechanical and plant engineering sector in July was only in single figures compared to the previous year. However, the VDMA is not yet talking about a trend reversal.
However, the decline in orders of 5% in real terms is not a sign of a trend reversal, as the same month last year had only achieved a meagre order volume. "In view of this weak basis, the bar was not set too high," explains VDMA Chief Economist Dr. Ralph Wiechers. Orders from Germany and abroad were both down 5% on the previous year in July, with orders from euro countries falling by 6% and 4% fewer orders coming from non-euro countries. "The industry was spared another sharp drop in orders, both year-on-year and over the course of the year. However, the order situation in mechanical and plant engineering remains unsatisfactory overall and there is no initial spark for new orders. Unfortunately, we see no real signs of this either in the global economy or in Germany," explains Dr. Wiechers.
In the less volatile three-month period from May to July 2024, orders fell by 14% in real terms compared to the previous year. There were 22% fewer orders from Germany and 10% fewer orders from abroad. The euro countries and non-euro countries were each down 10% on the previous year.
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