Incoming orders in October 2024
VDMA: Order situation in mechanical engineering remains weak
Incoming orders in the mechanical and plant engineering sector remained weak in October, with orders falling 9% short of the previous year's level in real terms.
Companies once again recorded a 3% increase in domestic orders. At the same time, however, foreign orders were 14% below the previous year's level, with the declines in euro countries (minus 14%) being similar to those in non-euro countries (minus 13%). "Both results should not be overestimated," explains VDMA Chief Economist Dr. Ralph Wiechers. "The domestic increase is based on an extremely weak comparative basis in the previous year. The sharp drop in foreign business, on the other hand, can be explained by large-scale plant business a year ago. For the first ten months of the current year, orders are now down by a total of 8%. It remains the case that customers in the mechanical engineering sector are very reluctant to make new investments," says Dr. Wiechers.
In the less volatile three-month period from August to October 2024, 3% fewer orders were recorded in real terms. Domestic orders were down 7% and orders from abroad were down 1% (euro countries: down 4%, non-euro countries: no change).
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