In December 2023, incoming orders in North Rhine-Westphalia mechanical and plant engineering fell 25 percent short of the previous year's level, adjusted for prices. 30 percent fewer orders came from domestically and 22 percent fewer from abroad. The non-euro zone contributed to this foreign result with a minus of 20 percent and the euro zone with a minus of 26 percent.
In contrast, order intake in the less volatile three-month period from October to December 2023 fell by 22 percent compared to the previous year. Domestic demand fell by 20 percent and from abroad by 23 percent. Orders from the Eurozone were 9 percent below the previous year's values and those from the non-Eurozone were 28 percent behind.
Annual balance sheet
The annual balance of incoming orders for NRW mechanical and plant engineering shows a decline of 16 percent for 2023. Domestic demand fell by 3 percent, while foreign business was down 21 percent compared to the same period last year. Demand from the euro area remained 10 percent behind the previous year's values and from the non-euro area 25 percent.
“The mechanical and plant engineering industry in North Rhine-Westphalia clearly felt the effects of the war in Ukraine, the global challenges and the weak economy last year. The decline in foreign orders is due in particular to the weak order intake from non-European countries, which had a negative impact on the entire foreign country. The decline in foreign demand could not be compensated for by domestic demand, which also declined last year - albeit only moderately by 3 percent," explains Hans-Jürgen Alt, Manager ProductionNRW
