Mechanical engineering sector in Germany grows seven percent
Germany’s mechanical engineering sector performed well in 2021 and, despite the Corona pandemic, will start the New Year with plenty of confidence.15 Dec 2021
Enormous challenges in Germany, Europe and the world – especially climate change – demand technical progress. “The medium-sized mechanical and plant engineering sector plays a key role here with its technological expertise. Climate protection is not feasible without mechanical and plant engineering. That is why we stand ready as a partner of progress,” said VDMA president Karl Haeusgen at the association's online annual press conference.
While new orders increased by 34 percent in real terms in the first ten months of the current year, production rose by a weaker-than-hoped 7.2 percent in real terms in the same period. “We could have produced more had the various supply bottlenecks not been so persistent,” explained Haeusgen. VDMA economists therefore estimate that production growth in 2021 will be plus seven percent year-on-year in price-adjusted terms. This corresponds to a value of around 219 billion euros. “This means we are not yet back to pre-Corona levels, but we are steadily approaching them,” said Haeusgen. Furthermore, since companies expect to be able to work off the high order backlog in the coming year, the VDMA is increasing its production forecast for 2022 from the previous plus five percent to plus seven percent compared to the previous year.
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