VDMA
Mechanical engineering: Orders remain on a downward trend
According to the VDMA, the decline in incoming orders in the mechanical and plant engineering sector continued as expected in May. Orders fell by 28% in real terms compared to the previous year.
In April, incoming orders had already shrunk by 31% compared to the previous year. "In April and May, the great uncertainty felt by many customers became very clear. In the meantime, expectations have recovered somewhat. However, we are still unable to estimate when the situation will ease in the long term," says VDMA Chief Economist Dr. Ralph Wiechers.
Domestic demand shrank by 23% in May, while orders from abroad fell by 31%. Orders from the eurozone remained 27 percent below the previous year's level, while orders from non-euro countries were 32 percent lower. "At least our companies have been spared an even greater slump so far," says Wiechers.
In the less volatile three-month period from March to May 2020, incoming orders fell by 22% in real terms compared to the previous year. Domestic orders were down 16%, while foreign orders remained 25% below the previous year's level. Orders from euro countries shrank by 24%, while orders from non-euro countries were 25% lower. as
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