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Video: Mechanical Engineering Production In Germany Stagnates
According to provisional data from the Federal Statistical Office, production in mechanical engineering in Germany fell by 0.2% in real terms last year compared to the previous year. "As expected, 2016 was only enough for stagnation in mechanical engineering," explains VDMA chief economist Dr. Ralph Wiechers the development. In the middle of the year there was still hope for a better value. "But investors' skepticism increased again in the second half of the year," Wiechers explains.
However, in a challenging global economic environment, the mechanical engineering industry has once again succeeded in compensating for some significant declines, for example in China or the United States, through successful business in Europe and in many smaller markets. “The key to these many small successes was innovation, openness and reliability. Virtues that we continue to rely on and that we also demand politically - nationally and internationally,”emphasizes Wiechers. (kj)
mechanical engineering
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