FRANKFURT – The Covid-19 crisis has hit the German electronics industry hard in recent months, says ZVEI, but the mood has turned up of late as companies show signs of a rebound.
"The mood indicators for June give reason to hope we may have now bottomed out," said Gunther Kegel, Ph.D., ZVEI President-designate. “We register signs of recovery in both production plans and the business climate in general. That makes us cautiously optimistic about the second half of the year.”
May brought big losses to the industry, despite the first easing of protective measures. Yet companies are beginning to revise their production plans upward. The balance of companies that want to produce more or less over the next three months rose from minus 38 to minus 10 in June. General business expectations in the industry also continued to improve, ZVEI said.
"To put it bluntly: We are still significantly below the previous year's values, but small steps also take us forward,” said Kegel. “While a recovery is foreseeable for Germany and the Eurozone, the low point in the US is still pending. By contrast, demand from China has already improved noticeably. Exports here were up almost 18% in April compared to the previous year.”
The performance exhibition of companies is particularly important for further positive economic development.