German machinery manufacturing orders fell sharply for the 11th consecutive month in August

According to the German "Business Daily" reported on the 30th, German machinery manufacturing orders in August fell by 43% year-on-year, a sharp decline in the eleventh consecutive month. Among them, domestic orders fell by 45%, and foreign orders decreased by 41%. From June to August, German machinery manufacturing orders fell 44% year-on-year. The German Mechanical Equipment Manufacturers Association (VDMA) is optimistic about the prospects, saying that the industry has bottomed out, domestic demand will pick up soon, and foreign orders will shrink in the next two months. The export-oriented German machinery manufacturing industry is in the most serious crisis in more than 60 years. VDMA expects that the German machinery manufacturing industry will shrink by 20% this year, and the industry output value will be 158 billion euros, falling back to 2006 levels. The German machinery manufacturing industry will stop growing next year.

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