German machinery orders at bottom of decline, says VDMA
The decline in orders for German plastics machinery has probably hit bottom, according to the machine manufacturers’ association, the plastics and rubber machinery sector of the the VDMA – the German Engineering Federation.
Orders in 2008 reached a record level of Eur 5·6 billion but plummeted as the recession bit and in the first four months of this year orders were 48 per cent down on the eqivalent period last year, with actual sales 30 per cent lower.
However, association chairman Jan-Udo Kreyenborg said that with the first half of the year drawing to a close it looks as if the decline has halted. And “project business in the last few weeks suggests that the situation is set to stabilise in autumn 2009.”