In its final months, the year 2022 ended with a variety of dampeners in the order books of the machinery and plant engineering sector. October already saw a double-digit drop in orders, and November orders were also down 14 percent year-on-year in real terms. Domestic orders fell short of their year-earlier level by 7 percent, while orders from abroad fell by 17 percent. Within the euro zone, the decline was significantly higher than in non-euro countries (minus 11 percent), at minus 30 percent.
"In part, the decline can be explained by the so-called base effect. There were more orders for large-scale plants in November 2021, and the previous year's level was quite high anyway," said VDMA chief economist Dr. Ralph Wiechers. "But this does not completely define away the minus. The good thing is that many mechanical engineering companies have order cushions, which they are also carrying into the new year."
The three-month period from September to November 2022, which is normally less susceptible to fluctuations, saw an overall 9 percent decline in orders compared with the previous year. Domestic orders were down 9 percent, while foreign orders also fell 9 percent. Here, euro countries were down 18 percent year-on-year and non-euro countries were down 6 percent.
