VDW German machine tool industry expects a boost in production in 2015
Boosted by falling energy prices and booming industry sectors such as automotive, the German machine tool industry is anticipating a 3% rise in production output in 2015.
Last year marked the second highest production output in the German machine tool industry's history, Martin Kapp, Chairman of the German Machine Tool Builders' Association VDW, said at a press conference in February. Order values reached €14bn, 1% below the 2013 results. Germany’s industrial sector is at present benefiting from falling energy prices, caused by the plummeting price of oil. Boosted by these developments and the euro exchange rate, the German machine tool industry is anticipating a 3% rise in production output in 2015.
The industry is said to benefit from booming sectors such as automotive and mechanical engineering, as well as the resurging manufacturing industry in the US.