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German engineering orders jump 65% in September

by Mike Robinson

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© Reuters.

BERLIN, (Reuters) – A boost from industrial large-scale facilities in September has prompted German engineering companies to order more, but supply shortages have slowed down how fast orders can get filled, VDMA industry association said on Thursday.

Year-over-year, total orders rose by 65%. Foreign orders nearly doubled the number of orders and finally reached 98%.

This was partly due to the dramatic fall in coronavirus last year.

Olaf Wortmann, VDMA economist, said that even after taking into account the special effects, the number of orders received remains at a fifth higher than last year.

VDMA stated that the rise in demand shows that there is still demand, despite slowing processing and supply bottlenecks.

“But it’ll take longer than normal until [the orders]Wortmann added that it could also be revenue.

September Change

Globally, +65% year-over-year

German +3% y/y

foreign +98% y/y

July-September

Overall, +50% year-over-year

German, +19% y/y

foreign +67% y/y

 

 

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