Monday, December 6

Orders to German electronics industry rise more than 20%


High-volume orders for German electronics strongly boosted business in this industry in September, with an increase of 26.5% year-on-year, the industry federation (ZVEI) reported.

National orders grew somewhat more than those from abroad. In the first nine months of the year, there was an increase in orders of 26.3% compared to the same period of the previous year.

The ZVEI detailed that, in relation to 2019, that is, before the crisis caused by the coronavirus (COVID-19), orders were up 17%.

The federation explained that the increases in production and turnover in September were more moderate than in recent times.

The price-adjusted production of this sector, which employs some 870,000 people, increased 7% compared to the previous year and 11.8% in the first nine months as a whole.

Sales rose 6.2% to 17.5 billion euros ($ 20,232 million) in September.

At the beginning of the fourth quarter, electronics companies had to adjust their production plans downward.

The reasons probably lie in supply and not in demand, observed the ZVEI economist, Andreas Gontermann.

The expert added that many companies in the sector suffer the consequences of a lack of qualified workers, a shortage of materials and delivery problems.

DPA



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