According to the VDMA, incoming orders in the German mechanical engineering industry in February fell short of the previous year’s level by 4% in real terms. While orders from domestic customers fell by 6%, orders from abroad were down 3% year-on-year. “This is the calm before the storm,” said VDMA Chief Economist Dr. Ralph Wiechers. “The real extent of the consequences of the corona pandemic in the mechanical engineering industry will only become apparent in the order figures for March and the following months. After all, 84% of VDMA members reported serious to noticeable order losses in a survey conducted at the end of March”.
