Orders slump in German electrical industry
As reported by the ZVEI, the German electrical industry experienced a significant drop in orders in March.
The value of the orders was 12 % below March last year, as a year ago there was an unusually large number of major contracts. Furthermore, the early Easter in March had a negative influence on business development. Production and turnover also decreased slightly in this month.
This means that in the first quarter as a whole, new orders are 3.2% below their last year’s level. With a minus of 5.8% domestic orders fell more sharply than orders from abroad (-1.1 %).
The sector’s turnover after 3 months stood at EUR 43.1 bn and was thus 1.4% higher than in the same period last year.