The demand for machines from Germany is booming. The industry is growing most strongly with orders from abroad. In addition, there is a noticeable upward trend worldwide.
Germany’s mechanical and plant engineering companies continue to benefit strongly from the global economic recovery.
Adjusted for price increases (in real terms), the export-oriented industry posted a 37 percent increase in orders in July compared to the same month last year, as the Association of German Mechanical and Plant Engineering (VDMA) announced in Frankfurt on Thursday. Orders from abroad increased by 43 percent, while domestic orders came in 24 percent more than in the same period of the previous year, which was characterized by the pandemic.
“We are experiencing a sustained high demand for mechanical engineering products from all parts of the world, including at home. Many customers now want to catch up on what was left behind due to Corona 2020 ”, explained VDMA chief economist Ralph Wiechers. “However, these orders first have to turn into sales. And here we are increasingly concerned about the ongoing delivery bottlenecks and material shortages. “
Scarce raw materials and, in some cases, global supply chains that are not functioning perfectly smoothly have been holding back production for several months. As a result, sales in industry did not recover to the same extent, despite full order books.
However, the demand for machines “Made in Germany” has been booming for months. According to the VDMA, manufacturers posted a real increase in orders of 30 percent from January through July. Orders from abroad in the seven months were 36 percent above the level of the same period in the previous year, while domestic orders were 20 percent more in the seven months than a year earlier.
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.
