Production in mechanical engineering grew by 3.1 percent in real terms in 2017
Preliminary calculations by the Federal Statistical Office indicate that, adjusted for price, production in mechanical engineering rose by 3.1 percent last year, reaching a volume of around 212 billion euros thus exceeding the three percent growth predicted by VDMA's economists.
Estimates put the annual turnover in mechanical and plant engineering at an increased 224 billion euros. 2017 can therefore undoubtedly be classified as the first year of an upturn.
However, little of this growth came from domestic business, which failed to meet the VDMA's economists' expectations. It should be a much better story in 2018. The growth in production in 2017 clearly came from increases on the export market, which saw growth in almost every area.
USA (up 12 percent) and China (up 24 percent) saw the largest increases. But the upswing is far from extending to every segment of mechanical engineering: 13 percent of mechanical engineering companies say they could produce more if they had the orders.