In the first quarter of the current year, order bookings in the German machine tool industry increased by eight percent year on year, according to the German Machine Tool Builders' Association (VDW). Given the dominance of the German industry in the mechanical engineering sector, data released by the VDW are seen as a barometer for general business conditions in the EU.
In the German machine tool industry in the first quarter of this year, domestic orders stagnated while export orders increased by 11 percent, both compared to the same quarter of last year.
“In comparison to the cautious first quarter of 2015, demand for machine tools is currently showing a healthy increase,” commented Dr. Wilfried Schäfer, executive director of VDW. The growth in demand resulted primarily from a substantial rise during the month of March, and in particular from a double-figure rise in orders from non-European foreign countries. The crucial factor is good project business in China, where machining centres, especially, were responsible for positive one-off effects, according to the statement from the VDW.