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The newly crowned rugby world champion has been downgraded by Moody's rating agency. The background is a challenging mix of structural labour market problems, weak capital investment high public debt and low growth.
German machinery exports to the Czech Republic developed solidly until the first quarter of 2019. In the second quarter, however, there were clear signs of a slowdown in export business, with a decline of 4 percent. German machinery imports from the Czech Republic showed a similar development.
Germany accounted for 16% of total machinery exports (1,113 billion euros). After 2017, Germany's mechanical engineering sector thus continues to be the global leader in 2018, ahead of China (14 %), the USA (10 %), Japan (9 %) and Italy (7 %).
In August 2019, German machinery exports declined by 6.1 percent compared to the previous year (in nominal terms).
There has been a strong cyclical upturn in the industry starting in 2016: profits grew at double-digit rates in the past two years. But now the manufacturing industry is confronted with a sharp downturn.
In July 2019, German machinery exports increased by 1.7 percent in nominal terms compared to the previous year.
Growth in the Chinese economy fell to 6.2 percent in the second quarter - the lowest rate since 1992 - and is likely to continue to fall in the third and fourth quarter of 2019 and beyond. But it is not only the trade conflict that is to blame.
No one is prepared for an unregulated UK's withdrawal from the EU. Analyses show how important it is, especially for the United Kingdom, to avoid a no-deal Brexit.
Germany is the largest investor in the US mechanical engineering industry
A new analysis by the Institut der deutschen Wirtschaft (IW) shows that the loss of competitiveness, productivity weakness and high regional inequality are problematic for Italy.
German machinery exports fell by 10.2 percent in June compared with the previous year.
Astonishingly high degree of self-sufficiency in mechanical engineering - Germany by far the most important foreign supplier ahead of Sweden - Wood and paper industry important industrial sector
National and international political and economic uncertainties cloud the prospects for mechanical engineering companies.
The VDMA economists are forecasting a reduced turnover growth of 2 percent for global mechanical engineering in 2019.
Vietnam is the winner of the trade dispute between the USA and China – according to some headlines in the media. High time, therefore, for a quick and critical reality check.
For the first time since 2015, growth in the mechanical engineering industry has been negative (-6.9 per cent in Q12019 compared to the previous year). The results of the VDMA business climate survey paint a very similar picture.
In the second half of 2018, German machine deliveries to Russia lost noticeable momentum. In March 2019, they fell short of the previous year's figure for the fifth time in succession.
There was particularly high growth in Italy, which has replaced France as the most important destination within the European Union.
The results of the VDMA business climate survey (BCS) in China show a continuing negative trend in the assessment of the business climate. However, more companies are now optimistic about the future than they were six months ago.
Poland's importance for German machinery exports continued to increase in 2018. As a supplier of machine parts and components, the country is also one of the TOP-10 trading partners on the import side.
Ulla Nickol
Ulla Nickol
International Foreign Trade
+49 69 6603-1370
+49 69 6603-2370
Benedict Jeske
Benedict Jeske
Asia, Africa, Australia
+49 69 6603-1389
+49 69 6603-2389
Anke Uhlig
Anke Uhlig
EU Countries, International Economic Analysis, Forecasts, Leading Economic Indicators
+49 69 6603-1388
+49 69 6603-2388
Michael Werner
Michael Werner
Market Data on mechanical engineering in the Americas, Direct Investments
+49 69 6603-1375
+49 69 6603-2375
Annette Meyerhoff
Annette Meyerhoff
Labour Market, R&D
+49 69 6603-1382
+49 69 6603-2382