Mechanical and Plant Engineering Strong growth on a weak basis
Despite all the supply bottlenecks, the order books in the mechanical engineering industry were continuously filled up strongly in August. The German Engineering Federation (Verband Deutscher Maschinen- und Anlagenbau e. V.; VDMA) draws a comparison with the previous year.
Compared to the previous year, orders increased by an impressive 48 % in real terms. "However, the benchmark for the year-on-year comparison was also extremely low: in August 2020, the mechanical engineering industry recorded the third weakest order result of the past year," explains VDMA economic expert Olaf Wortmann. Building on this weak basis, companies were able to increase their domestic orders by 36 %in August 2021. Orders from abroad grew even stronger by 54 %. "This noticeably higher growth compared to the domestic market is also due to the fact that significantly more orders for large-scale plants came from abroad than in the previous year," says Wortmann. Orders from the euro zone increased by 41 % in the month under review, and 59 % more orders were received from the non-euro zone.
In the less volatile three-month period from June to August, orders were up 45 % on the previous year. Domestic orders were up 34 %, while foreign orders rose by 51 %. An increase of 42 % was recorded from the euro countries, and 56 % more orders came from the non-euro countries.