The German machine tool industry recorded its first triple-digit order growth – 117% – during the third quarter, but industry officials have warned against getting carried away.
The German Machine Tool Builders’ Association (VDW) also said export sales were up 128% compared to a year ago. Overall demand was up 77% in the first nine months.
“The good news is that the upturn is gaining momentum,” said VDW executive director Dr Wilfried Schäfer.
But he cautioned against euphoria, emphasising that comparisons with the low demand seen in 2009 were misleading. Compared to 2008, sales were down 20% on a like-for-like basis in the third quarter.
Despite the progress, Mr Schäfer said production output would still decline in 2010, “but the decline will be only half as severe as originally anticipated”.
“We’re now predicting a production decline of 6%,” he added.
