Incoming orders in mechanical engineering - Order slump continues
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Orders in the mechanical and plant engineering sector continued to decline in February. Domestic and foreign markets were equally responsible for the 10 percent drop in orders.
Orders in the mechanical and plant engineering sector fell by a double-digit percentage again in February: Incoming orders were once again 10 per cent below the previous year's level in real terms. Domestic orders were down 11 per cent and foreign orders fell by 10 per cent. The drop in orders from euro countries (minus 15 per cent) was more pronounced than the decline in orders from non-euro countries (minus 8 per cent).
"At the moment, the negative aspects still predominate in the order situation. Economic researchers are counting on a turnaround in the second half of the year. But mechanical engineering is a late-cycle sector, so it may be a while before the slump in orders ends," explains VDMA Chief Economist Dr Ralph Wiechers. "On the positive side, inflation rates are currently continuing to fall," he adds.
In the less volatile three-month period from December 2023 to February 2024, orders fell by 8 per cent in real terms compared to the previous year.
There were 11 per cent fewer orders from Germany and 7 per cent fewer orders from abroad. Orders from euro countries fell by 15 per cent, while orders from non-euro countries were down 4 per cent.
