ZVEI
Electrical industry grows by 1 % in 2016
The German Electrical and Electronic Manufacturers' Association (ZVEI) has specified its forecast for 2016 from the beginning of the year: "moderate growth" can be expected in the German electrical industry.
"We are expecting a 1% increase in price-adjusted production this year. Turnover should increase slightly more strongly at 2% and thus exceed the 2008 record of 182 billion euros," explained ZVEI President Michael Ziesemer at a press conference in the run-up to the Hannover Messe.
The start to 2016 was mixed: the figures for January were rather subdued, while those for February were relatively good. Taking both months together, real production in the German electrical and electronics industry was 0.3% higher than in the previous year. Industry turnover - which also includes services - increased by 2.5% to 27.1 billion euros. Exports (including re-exports) in the electrical and electronics industry increased by 3.1% in the same period. Finally, 2.7% more orders were received than a year ago.
Although the list of global economic risks remains long, according to the latest ZVEI survey, three quarters of the companies surveyed expect revenue to increase by 2% or more this year; only one in ten companies expect stagnation.
The German electrical industry closed 2015 with a price-adjusted production increase of 1.3%. Industry revenue increased by 4.1% to €178.9 billion. As far as exports are concerned, they rose by 6.7% to 174.1 billion euros - the second annual record in a row.
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