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Electronics industry with confidence despite weaker growth

FRANKFURT (dpa-AFX) – In the German electrical industry, confidence has grown despite fewer new orders at the end of the year. The companies assessed the current situation somewhat more favorably than in November, announced the Association of the Electrical and Digital Industry (ZVEI) in Frankfurt on Monday. “Business expectations even improved significantly compared to the previous month,” summarized ZVEI economist Jürgen Polzin.

In the case of new orders, growth in November has, according to the information, slowed down further. For the second month in a row, incoming orders were only a single-digit plus at 5.0 percent. Polzin also explained this with a base effect: a year earlier, orders had increased by double digits.

Domestic orders fell by 3.4 percent in November 2021 compared to the same month last year, while orders from abroad rose by 12.7 percent. From January to November 2021 inclusive, the export-oriented industry is clearly in the plus after the Corona low of the previous year: 22.5 percent more orders were received than in the eleven months of 2020.

From January to November 2021 inclusive, production and sales also exceeded the respective previous year’s values: According to the ZVEI, production was 9.5 percent higher, and industry sales totaled 181.4 billion euros – an increase of 9.8 percent compared to the same period of the previous year./ ben / DP / eas

Reference-www.finanzen.at

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