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In the third quarter of 2023, the German machine tool industry witnessed a significant drop in orders compared to last year, with both domestic and foreign demand declining. Dr. Wilfried Schäfer of the VDW highlights global economic factors impacting investments and notes a particular weakness in the Chinese market.
Producers in Germany, one of the world’s largest sources of machine tools, expect no rebound in new order volumes, even though inflation is receding and cost pressures are easing.
EMO Hannover returns after a four-year break, attracting a large number of international visitors. With a focus on automation, digitalisation and sustainable manufacturing, the event draws participation from 45 countries and emphasises emerging technologies such as collaborative robots.
Orders received by the German machine tool industry in the second quarter of 2023 were three percent down in nominal terms on the same period last year.