Mechanical and Plant Engineering Double-Digit Plus, but Less Momentum
In November 2021, incomming orders in the machinery engineering sector exceeded its prior-year level by 23 % in real terms, thanks in part to a number of major orders. Despite the double-digit increase, the period of extremely high momentum is over.
In November 2021, order intake in the machinery and plant engineering sector exceeded its year-earlier level by 23 % in real terms, thanks in part to a number of major orders. Domestic orders rose by 16 %, while orders from abroad increased by 27 %. "However, the still double-digit year-on-year growth rates should not hide the fact that the period of extremely high momentum is over," explained VDMA chief economist Dr. Ralph Wiechers. Compared to the order figures of the previous months, the growth in orders is now less pronounced, but this is no cause for concern in view of the often already well-filled order books. "Although the economy in many countries is still on a roll, our customers' pent-up demand should now have been largely satisfied. What orders are now being placed are mainly for new investment projects, some of them major," says Wiechers.
The economy in many countries is still running well, but the pent-up demand of our customers should be largely satisfied by now.
In the less volatile three-month period from September to November, orders increased by 35 %, compared to the previous year. Domestic orders were up by 10 % and foreign orders were up by 48 %. An increase of 36 % was recorded from the euro countries and 43 % more orders came from the non-euro countries.