German machine tool orders grow strongly

According to the data from the German Machine Tool Manufacturers Association, the order volume of the German machine tool industry in the second quarter was unexpectedly rapidly growing again, reaching 71%. The main driving force was the increase in domestic demand, reaching 81%, while foreign orders increased by 66%.

In the first half of 2010, the total demand for machine tools in the market increased by 58% over the same period of the previous year, domestic customer orders accounted for 51%, and foreign customer orders accounted for more than 61%. “After experiencing a drastic shrinkage in the machine tool industry, it now welcomes the best period of growth since the 1970s.” Wilfried Sch, president of the German Machine Tool Manufacturers Association Dr. Fer commented on quarterly data in this way. This situation shows that most German industrial production has taken a big step forward.

Despite this, Sch? Dr Fer still hopes to be calm about the current situation. There are still many uncertain factors in the market, such as the sluggish US market, possible slowdown in China's market growth or possible crisis in the financial sector. "This forecast by the German Machine Tool Builders Association for a 12% drop in sales has not yet changed."