German machine tool 2015 second quarter orders rebound

Abstract Machine tool orders in the second quarter of 2015 increased by 10% compared to the same period last year. Domestic orders increased by 3% and foreign trade orders increased by 14%. German machine tool orders increased by 6% in the Eurozone and non-Eurozone orders increased by 16%. Compared with 2014...
Machine tool orders in the second quarter of 2015 increased by 10% compared to the same period last year. Domestic orders increased by 3% and foreign trade orders increased by 14%. German machine tool orders increased by 6% in the Eurozone and non-Eurozone orders increased by 16%. Compared with 2014, machine tool orders in the first half of 2015 were slightly sluggish, domestic orders fell by 8%, and foreign trade orders rose by 6%.

After the fall of the first quarter of 2015, orders in the second quarter increased slightly. In this regard, Wilfried Schäfer, managing director of the German Machine Tool Association, said that the two quarters of decline and rise basically maintained a financial balance. The increase in orders in the second quarter was mainly due to the increase in foreign trade orders.

In addition, the growth momentum in the second quarter was mainly from the non-euro zone. Orders in China in Asia increased slightly; South Korea and the Association of Southeast Asian Nations were concentrated in order growth; orders from the United States were not very prosperous. In the second quarter of the Eurozone, orders in the second quarter showed a double-digit growth trend, mainly due to the investment in Spain and Italy, and the demand for the domestic machine tool industry began to recover.

Sales of machine tools in the second quarter increased slightly from the first quarter and remained flat overall. Wilfried Schäfer commented: To achieve the 2015 growth target of 3%, there is still confidence in the current situation. The German machine tool industry has maintained a good development trend, and most of its customers are export-oriented; the European market is weak overall and Germany's price competitive advantage is highlighted. After two declines, the IFO business climate index also began to recover; the temporary relaxation of the situation in Greece is also conducive to the development of the German economy.

The German employment rate remains at a high level, which also means the good development of the German machine tool industry in the future. In May, 72,800 people were employed in the machine tool industry, an increase of 2.3% over the same period last year.

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