The VDW (German Machine Tool Builders’ Association) is expecting production in the machine tool industry to grow by 9% this year, to a volume of €15.5bn. In nominal terms, this is only 10% below the record result of 2018. At its annual press conference in Frankfurt, Franz-Xaver Bernhard, VDW chairman, said: “We have largely overcome the effects of the pandemic. The industry has entered the current year with a significant backlog of orders.”

He continued:“Even though the gap between orders and sales is currently closing, the German Federal Statistical Office is still reporting a 12-month backlog of orders for the machine tool industry. This means that companies are well placed to weather any dip in orders in the first half of 2023, as suggested by the most recent figures.”
For further information www.vdw.de/en