Mechanical and plant engineering
Incoming orders in November: economic dampener takes effect
In the final months of 2022, the various economic downturns were also reflected in the order books of the mechanical and plant engineering sector.
Following a double-digit drop in orders in October, orders in November were also 14% down on the previous year in real terms. Domestic orders fell 7% short of the previous year's level, while orders from abroad fell by 17%. The decline was significantly higher in the eurozone (minus 30%) than in non-euro countries (minus 11%).
"Part of the decline can be explained by a so-called base effect. There were more orders for large-scale systems in November 2021, and the previous year's level was already quite high," explains VDMA Chief Economist Dr. Ralph Wiechers. "However, this does not completely eliminate the minus. The good thing is that many mechanical engineering companies have a cushion of orders that they can carry into the new year," he adds.
In the less volatile three-month period from September to November 2022, orders fell by a total of 9% compared to the previous year. Domestic orders were down 9% and foreign orders also fell by 9%, with euro countries down 18% on the previous year and non-euro countries down 6%.
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