VDMA balance sheet 2019
Orders down by 9 percent
According to the VDMA, 2019 was a disappointing year overall for mechanical engineering companies in Germany. Compared to the previous year, order books for 2019 as a whole are down nine percent in real terms.
The end of the year was no exception, with no surprises. In December 2019, orders fell short of the previous year's level by seven percent in real terms compared to the previous year. In Germany, five percent fewer orders were recorded in the final month, and seven percent fewer orders came from abroad.
A look at 2019 as a whole shows significant declines in order books, according to the association: overall, mechanical engineering companies recorded a nine percent drop in domestic orders, while foreign orders also fell by nine percent. "In summary, 2019 was a bleak year for the German mechanical and plant engineering industry. In particular, international trade disputes, increasing protectionism and the Brexit adventure as well as the far-reaching structural change in the automotive industry have led to uncertainty and a reluctance to invest. This has left a clear mark on the order books," explained VDMA economic expert Olaf Wortmann. Incoming orders from eurozone countries fell by eight percent in 2019, while orders from non-eurozone countries were down nine percent.
Three-month comparison
In a three-month comparison from October to December 2019, orders were down by a total of 11% in real terms compared to the previous year. Domestic orders fell by eleven percent, while incoming orders from abroad fell by ten percent. Orders from the eurozone fell by eleven percent, while orders from non-eurozone countries were down ten percent. as
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