Industry Orders On course for further growth
Germany – In the third quarter of 2016, the German machine tool industry’s order bookings rose by 8% compared to the preceding year’s equivalent period, the German Machine Tool Builders' Association (VDW) said.
Domestic orders were down by 14%, while demand from abroad increased by 22%. In the first nine months of 2016, order bookings were up by 11% compared to the preceding year. Domestic orders showed a slight rise of 2%.
“In the year’s third quarter, our sector has been able to build on the encouraging business trends of 2016's first half. The good order situation is here being crucially boosted by demand from abroad, Euro- and non-Eurozone,” explained Dr Wilfried Schäfer, VDW executive director. In the Eurozone, the southern European markets of Italy, Spain and France are helping to drive the order upturn forward. Outside Europe, orders from the US have been particularly buoyant, VDW reported.