ZVEI: Market development
German electrical and digital industry continues to grow
With year-on-year growth of 13.4%, incoming orders in the German electrical and digital industry also saw double-digit growth in August 2022. This time, foreign orders rose more strongly than domestic orders.
In the overall period from January to August of this year, the order value was 13.2% higher than in the same period of the previous year. Domestic and foreign orders rose by 11.3% and 14.7% respectively. Orders from the eurozone from January to August were 17.6% higher than in the previous year.
The price-adjusted production of electrical and electronic goods rose by 9.3% in August 2022 compared to the previous year. "August was therefore the strongest month so far this year in a year-on-year comparison," says ZVEI Chief Economist Dr. Andreas Gontermann. In the first eight months of this year as a whole, industry output grew by 2.9% compared to 2021. The nominal revenue of German electrical and digital companies amounted to €19.1 billion in August 2022 - an increase of 22.5% compared to the previous year.
In the first eight months of this year, aggregated industry revenue amounted to 143.0 billion euros. This corresponds to an increase of 10.7% compared to the same period last year. Companies in the German electrical and digital industry downgraded both their production and employment plans in September. On balance, however, they remain in positive territory. After stagnating in the previous month, the business climate in the German electrical and digital industry fell slightly again in September.
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