Overall disappointing order situation
In June 2024, incoming orders in the mechanical and plant engineering sector remained significantly below the previous year’s figure. Orders fell by 9% in real terms. Domestic orders were down 8%, while orders from abroad fell by 10%. Orders from euro countries fell even more sharply, dropping by 12%. Orders from non-euro countries were down 8%.
“The order situation is disappointing overall. This means that the balance for the first half of the year is clearly negative. A turnaround is not yet in sight, and what’s more, the economic stabilization that was still emerging at the beginning of the...
In June 2024, incoming orders in the mechanical and plant engineering sector remained significantly below the previous year’s figure. Orders fell by 9% in real terms. Domestic orders were down 8%, while orders from abroad fell by 10%. Orders from euro countries fell even more sharply, dropping by 12%. Orders from non-euro countries were down 8%.
“The order situation is disappointing overall. This means that the balance for the first half of the year is clearly negative. A turnaround is not yet in sight, and what’s more, the economic stabilization that was still emerging at the beginning of the year has recently suffered a setback,” says VDMA Chief Economist Dr Ralph Wiechers.
The bottom line for the first half of 2024 was a year-on-year decline in incoming orders of 12% in real terms. From January to June inclusive, domestic orders fell by 18%, with 9% fewer orders coming from abroad (euro countries: minus 14%, non-euro countries: minus 7%). “To ensure that the first signs of a foreign-driven cyclical recovery are not thwarted, particularly in Germany, a consistent supply-oriented policy for more investment and innovation is required. The German government‘s growth initiative already contains a number of helpful measures in this regard. We must continue in this direction persistently and at a real German pace,” summarizes the VDMA chief economist.
