Orders received by the German machine tool industry in the second quarter of 2021 were 103% up on the previous year’s figure. While orders from Germany rose by 81%, foreign orders were 114% higher than in the previous 12 months. This significant increase in orders has led Oxford Economics, the VDW’s forecasting partner, to put production growth at 8%, two points higher than in the spring. This figure would bring the volume for the current year to €13.2bn. Nevertheless, there is still some way to go before reaching the peak of 2018-19. At that time, the industry achieved a result of €17bn.
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