Germany’s machine builders have to lower the production forecast for 2022 for the second time. “We probably have to correct the annual forecast again,” said Karl Haeusgen, President of the Association of German Mechanical and Plant Engineering (VDMA), in an interview with WELT AM SONNTAG.
It was extreme how the situation had deteriorated within a short time. “At the turn of the year we had expected seven percent growth for 2022, which we then had to correct to four percent in March. But even that can no longer be maintained.”
Haeusgen justified the move with a variety of risks, from the Ukraine war and the lockdown in China to inflation and disrupted supply chains. “The lack of materials is what hits us the most,” said the industry representative in the run-up to the Hanover Fair, the world’s largest industrial show, which begins on Sunday.
“Companies lack semiconductors and a number of other electronic components, but the situation is also getting worse for metals and plastics. And the China lockdown has had a much more severe impact on us than the Russian war of aggression.” The necessary supplies from Asia are not arriving at the plants, and the containers that are stuck there are missing at every nook and corner.
Mechanical engineering is also very concerned about a continuing threat of a gas embargo in Russia. “A gas embargo would further stress the supply chains, so that many parts would suddenly no longer be available. Then our systems will also come to a standstill, ”said Haeusgen.
At the same time, this could also affect demand. “We must therefore keep up the pressure on Russia. If we really want to meet Putin, an oil embargo must come into force as soon as possible.” Unfortunately, this is being stopped by the usual troublemakers in Europe.