Weaker production for the German mechanical engineering industry was only forecast in March. VDMA President Karl Haeusgen warns: this cannot be maintained either. The reasons are varied.
The German mechanical engineering industry is facing a reduction in its production forecast for the second time this year.
The situation had deteriorated extremely within a short time, said the President of the VDMA industry association, Karl Haeusgen, of the “Welt am Sonntag”. The forecast, which was lowered from 7 to 4 percent in March, can no longer be maintained, he explained before the start of the Hanover Fair this Sunday.
Haeusgen justified the move with a variety of risks, from the Ukraine war and the lockdown in China to inflation and disrupted supply chains. “Companies lack semiconductors and a number of other electronic components, but the situation is also getting worse for metals and plastics. And the China lockdown has a much more severe impact on us than the Russian war of aggression,” said the VDMA President. A gas embargo in Russia would further aggravate the situation from the point of view of the companies.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
