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VDW ups production output forecast for 2018

Posted on 25 May 2018 and read 920 times
VDW ups production output forecast for 2018In the first quarter of 2018, order bookings in the German machine tool industry rose by 22% compared to Q1 2017. Domestic orders were up by 39%, while orders from abroad increased by 15%.

Wilfried Schäfer, executive director of Frankfurt-based VDW (the German Machine Tool Builders’ Association), said: “Our sector is continuing to turn in a highly dynamic performance during 2018, building on last year’s excellent performance.

"Domestic orders remain the prime mover, and metal-cutting and metal-forming technologies made equal contributions to the first quarter’s growth.

“Based on a sizeable increase in orders last year, which is set to continue, we are raising our forecast for production output growth from 5 to 7%.”

Dr Schäfer also said the VDW is confident that the global economy “will continue to offer a good business environment for the industry’s investments.

“The upturn in demand stands on a broad foundation in terms of both technologies and markets.”