Stagnating machinery production in Germany
Production decrease by 0.2 percent in real terms in 2016 confirms VDMA forecast
According to preliminary data by the Federal Statistical Office, production in mechanical engineering in Germany decreased by 0.2 percent in real terms compared to the previous year. “As expected, mechanical engineering production stagnated in 2016. While there was still reason to hope for better results by mid-year, the second half of the year gave rise to skepticism among investors,” says VDMA Chief Economist Dr. Ralph Wiechers, describing the development.
As expected, mechanical engineering production stagnated in 2016.
But in light of the challenging global economic conditions, it must also be noted that the mechanical engineering sector once again succeeded in balancing out some substantial losses in China or the USA by doing successful business in Europe and many smaller markets. “An innovative and open mindset and reliability were key to achieving these few small successes. We will continue to focus on these virtues and make a case for them on the political level – both nationally and internationally,” Wiechers stresses.