The order situation in the mechanical engineering sector remains gratifying. In July, double-digit growth rates were recorded for the sixth month in a row. In real terms, orders rose by 37 percent in July compared to the previous year.
Order books in the mechanical engineering industry continued to fill up strongly in July thanks to a good global economy and a weak prior-year base. In real terms, orders rose by 37 percent in July, compared to the previous year. This was the sixth consecutive month of double-digit growth. "We are experiencing continuously high demand for engineering products from all parts of the world, including Germany. Many customers now want to catch up on what has been left behind due to Corona," explains VDMA chief economist Dr Ralph Wiechers. "However, these orders still have to become sales. And this is where the ongoing supply bottlenecks and material shortages are increasingly worrying us," he warns.
„It is pleasing to see that order growth from many regions of the world remained strong over the summer “, says Dr. Ralph Wiechers, VDMA chief economist
In July, domestic orders increased by 24 percent, while orders from abroad rose by 43 percent. The euro countries recorded a plus of 27 percent, the non-euro countries even an increase of 51 percent. An extremely weak previous year's level and some large orders in July 2021 were responsible for the very high increase from the non-euro countries. "It is pleasing to see that order growth from many regions of the world remained strong over the summer," says the VDMA chief economist.
In the less volatile three-month period from May to July, orders were up 45 percent on the previous year. Domestic orders were up 34 percent, while foreign orders rose by 52 percent. An increase of 46 percent was recorded from the euro countries, and 54 percent more orders came from the non-euro countries.