Sales of German machinery rise faster than expected

German plastics and rubber machinery manufacturers have recovered from the economic crisis more quickly and decisively than anticipated a year ago. The VDMA’s monthly representative survey shows that member firms achieved a 17 per cent increase in sales in the last financial year. At the time of K’2010 the growth forecast had already been raised from 10 to 15 per cent. Sales to customers in Germany were up by 10 per cent, while foreign business as a whole grew by 19 per cent; sales to the countries of the euro area recorded a year-on-year increase of 9 per cent. Output in core machinery manufacturing is expected to rise to around 4.5 billion euro, still below the record figure of 5.6 billion euro achieved in 2008.
The main market was again China, with the US coming a distant second and India ranking third.