Orders in mechanical engineering decline again
Incoming orders for mechanical engineering companies in the south-west fell in October. Compared to the same month last year, price-adjusted orders fell by twelve percent, the Baden-Württemberg mechanical engineering association VDMA announced on Friday.
After 18 months of declines, incoming orders had risen slightly in September, which the association attributed to special effects. With the exception of September, all months this year have been characterized by double-digit declines, said Dietrich Birk, Managing Director of the state association, according to the press release. "Order backlogs are increasingly dwindling, which will have an impact on companies' sales."
Between August and October, orders fell by eight percent compared to the same period last year. After the first ten months of the year, the decline now stands at 14 percent.
The economic situation in the mechanical engineering sector has been challenging, with orders declining for the 19th consecutive month. This downturn in business is likely to impact the financial health of companies in this industry, especially considering the reduction in order backlogs.
Source: www.dpa.com
