In the fourth quarter of 2015, order bookings in the German machine tool industry increased by three 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.
Domestic orders and export orders in the German machine tool industry in the fourth quarter of the 2015 increased by three percent compared to the same quarter of 2014. For 2015 as a whole, the final rise in order bookings was one percent. The growth has been crucially driven by a substantial 16 percent increase in orders from the euro zone.
“For the German machine tool industry, 2015 ended with a moderate rise in order bookings,” commented Dr. Wilfried Schäfer, executive director of VDW. The result was boosted by the year’s fourth quarter, and November in particular which recorded the highest growth rate of the entire year. The European machine tool industry is in good shape. “For all four quarters of 2015, our member companies have reported a consistently high level of demand,” emphasized Dr. Schäfer.