German Manufacturing German components makers expect slower growth
Component suppliers in Europe’s largest economy see their rate of sales growth easing to 3% - 4% this year after the industry recorded a jump of more than 16% in 2011.
Theodor Tutmann, spokesman for the German component supplier working group Arbeitsgemeinschaft Zulieferindustrie, said sales in the sector are beginning to settle after the “extraordinary growth” of the past two years. Speaking at the Hannover Fair, Tutmann said, “Expectations have been slightly dampened.” He noted that prospects are worsening for companies who are not active in international markets.
Producers integrated into the global supply chain have expressed increased optimism, according to Michael Weigelt, a management board member at the German plastics processing association GKV. He noted that component suppliers earn some 70% of sales directly or indirectly from exports.