Upbeat forecast from VDMA

24 October 2011

The association which represents German machinery and plant manufacturers, the VDMA, has raised its forecast for production for 2011 from an expected rise of 10% to one of 14%.

This means that the total production value of the German machinery industry could reach €188bn by the end of this year.

The previous year, 2010, closed with an increase of 9.2% to €163bn, compared with a sharp fall during 2009, to €151bn.

Taking machinery and plant building together, the association expects turnover to reach €199bn in 2011, up from €173.4bn last year.

Meanwhile, the VDMA’s forecast for 2012 is also optimistic, with another increase of 5% anticipated, taking turnover to €209bn.

Exports for 2011 are put at 77.1% for this year.

Order books at the end of June ranged from an average of 5.8 to 10 months’ production, or more in some sectors.