There are no new orders in the order books of German mechanical and plant engineering companies. Are there any signs of a recovery?
The German mechanical engineering industry continues to receive too few orders. In July, the value of orders was five percent below the previous year’s figure, according to the industry association VDMA. Although this was only a single-digit decline for the first time since October 2023, it was by no means a ray of hope, as the previous year’s month had already been extremely weak. “The bar was not set all that high given this weak basis,” explains VDMA chief economist Ralph Wiechers.
In the less volatile three-month period from May to July, orders fell by 14 percent. Wiechers believes there is no initial spark for new orders. There are no signs of this either in the global economy or domestically.
Source: Stern
