- Analytics
- News and Tools
- Market News
- Germany's engineering body VDMA slashes its production forecast for 2019 from 2% to 1% in April
Germany's engineering body VDMA slashes its production forecast for 2019 from 2% to 1% in April
Incoming orders and real production in mechanical engineering have slowed down considerably in the first few months of the year, and looking forward does not promise any improvement. "Therefore, a revision of our forecast is unavoidable; we now expect production to fall by 2 percent in real terms in 2019," explained VDMA President Carl Martin Welcker in a press conference. This revision is necessary despite the high order backlog, which was sufficient for 8.5 months in April. This is because this backlog is unevenly distributed across companies and industries and cannot completely cushion the sharp drop in incoming orders till the end of the year. Previously, VDMA economists had assumed a slight increase in production of 1 percent for the year as a whole.
In the first four months of the current year, mechanical engineering production stagnated in comparison with the previous year. According to preliminary figures, in April it was 0.8 percent below the previous year's figure. In the first five months of the current year, order intake in the mechanical engineering sector was 9 percent lower than in the previous year. Capacity utilisation still reached 87.4 percent in April.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
