In 2011, German steel and metal processing companies increased their production by 12 percent compared to the previous year, according to German steel and metal industry association WSM.
Meanwhile, in the last quarter of 2011 a 4.3 percent quarter-on-quarter decrease was recorded in the output of German steel companies, for the first time since the third quarter of 2008. In the last quarter 0f 2011, the domestic sales volume of German steel companies fell by 4.5 percent, while domestic order bookings fell by 5.6 percent, both compared to the previous quarter.
However, German steel companies remain cautiously optimistic for 2012 and expect further year-on-year growth of up to four percent. Both the estimate of the current state of business and future expectations improved based on questioning of German steel sector entrepreneurs in January this year. The association also added that the German industry is now dependent on overseas exports and that it is crucial that the expected weak demand in Europe should be replaced by demand from the growing markets in Asia, Russia and the US.