Foreign demand boost German machine tool industry

A double-digit growth in orders from European countries brought a boost for the German machine tool industry, the German machine tool builders' association VDW said. Of them, the sales of CNC machine, heavy duty lathe machine, milling machine are among the top. While incoming orders stagnated in the first half of 2015 compared to the previous year, orders received by the German machine tool industry in the second quarter of 2015 were 10% up on previous year's figures.

According to the association, domestic orders were increased by 3% in the second quarter of 2015, and foreign demand grew sharply, by 14%. There was 6% growth in orders from the euro zone, and a 16% increase from non-euro countries. Asia - where China posted a slight increase in business, strong orders were mainly received from South Korea and the ASEAN region performed positively overall - was a major factor in maintaining order levels. The United States, however, has been disappointing so far, Dr. Wilfried Schäfer, executive director of the VDW, said.