The mechanical and plant engineering industry in North Rhine-Westphalia continues to be burdened by the weak global economy and by geopolitical challenges. VDMA NRW expects production to decline by 2% in real terms in 2025.
Turnover in North Rhine-Westphalia’s mechanical and plant engineering sector is expected to level off at just under 48 billion euros this year due to inflation. A look at the first three quarters of 2024 shows that incoming orders fell 11% short of the previous year’s results. Domestic orders were down 24% in this period and orders from abroad were down 4%, with non-European countries contributing 3% and European countries 6%.
So far this year, incoming orders have fallen short of expectations. At present, companies are still benefiting from their order backlogs, which are, however, declining due to falling new orders.
North Rhine-Westphalia’s mechanical and plant engineering sector continues to be burdened by the weak global economy and geopolitical challenges. The duration and intensity of the global economic downturn are currently difficult to predict. Against this backdrop, VDMA NRW has adjusted its production estimate for this year to minus 8% in real terms and also expects a decline in production of minus 2% in real terms for 2025.
Source: VDMA