FRANKFURT, GERMANY – Machinery and equipment orders in Germany fell 49% during the month of February, reported VDMA, prompting the machine makers’ association to cut its production forecast for the year.
Machinery production and factory construction are now expected to fall 10% to 20% during the year, compared to the original prediction of 7%. The drop would mark the sharpest decrease since 1993.
Domestic orders for the month fell 45% and international orders were down 50% year-over-year, reported VDMA. The machine tool industry is an important sector for the country; Germany’s economy depends heavily on manufacturing exports.

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