Weaker production for the German mechanical engineering industry was only forecast in March. VDMA President Karl Haeusgen warns: this cannot be maintained either. The reasons are varied.
The German mechanical engineering industry is facing a reduction in its production forecast for the second time this year.
The situation had deteriorated extremely within a short time, said the President of the VDMA industry association, Karl Haeusgen, of the “Welt am Sonntag”. The forecast, which had already been reduced from 7 to 4 percent in March, can no longer be maintained, he explained before the start of the Hanover Fair this Sunday.
Haeusgen justified the move with a variety of risks, from the Ukraine war and the lockdown in China to inflation and disrupted supply chains. “Companies lack semiconductors and a number of other electronic components, but the situation is also getting worse for metals and plastics. And the China lockdown has a much more severe impact on us than the Russian war of aggression,” said the VDMA President. A gas embargo in Russia would further aggravate the situation from the point of view of the companies.