Incoming orders in mechanical engineering
VDMA: Orders have probably bottomed out
Incoming orders in the mechanical and plant engineering sector also fell by a double-digit percentage in July, although the decline has slowed noticeably, the VDMA announced.
Compared to the previous year, orders were down 19% in real terms. This means that the order result was better than in the previous months, which saw even sharper declines (April: minus 31% compared to the previous year, May: minus 28%, June: minus 31%).
"The bar was set high, as July 2019 was one of the strongest order months of the previous year. There is reason to hope that orders have bottomed out, even if we will continue to see year-on-year declines for some time to come," says VDMA Chief Economist Dr. Ralph Wiechers. There was a ray of hope in Germany, where orders were 15 percent down on the previous year. Orders from abroad were down 21 percent. There were 22 percent fewer orders from euro countries and 21 percent fewer from non-euro countries.
In the less volatile three-month period from May to July 2020, incoming orders fell by 26% in real terms compared to the previous year. Domestic orders were down 17%, while foreign orders remained 30% below the previous year's level. Orders from eurozone countries fell by 21%, while orders from non-eurozone countries were 34% lower. as
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