Orders in the machinery and plant engineering sector from Germany fell significantly once again at the beginning of the year. In real terms, new orders in January were 18 percent down on the previous year. 16 percent fewer orders came from Germany, while foreign orders were down 19 percent on the same month last year. At 8 percent, orders from the euro countries were significantly lower than those from non-euro countries, where orders fell by 23 percent.
Restrained new investments according to VDMA
"Last year, January was a strong start with an increase in orders of almost 20 percent. Therefore, the statistical base effect now plays a decisive role for the equally strong decline. But many customers are still reluctant to make new investments in view of the considerable uncertainties. Although the situation in the supply chains has eased somewhat, the Ukraine war, high inflation and the long-weakening Chinese economy are still dampening the economy," explains Dr. Ralph Wiechers, VDMA chief economist.
Orders fell by 17 percent year-on-year in real terms in the less volatile three-month period November 2022 to January 2023. 10 percent fewer orders were recorded in Germany. A 20 percent drop in orders was recorded abroad. Orders from euro countries were down 18 percent, and the minus with non-euro countries was 20 percent.
