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German machine tool industry continues to recover, production and investment maintain high growth rate
Confirmed by the German Machine Tool Builders Association (VDW), the German machine tool industry is expected to grow by 30% year-on-year in 2011. On the occasion of EMO Hannover 2011, the world's top metalworking trade show, VDW Chairman Martin Kapp said: 'The world machine tool industry is developing very well at present, and the demand remains at a high level.' VDW looks forward to the success of the exhibition, which will promote The world's demand for machine tools continues. Due to the high base, the growth rate of the machine tool industry will slow down in the second half of the year. According to VDW statistics, from January to July 2011, orders in the German machine tool industry increased by 91% year-on-year, and the order amount reached the highest level in history. Many smaller markets experienced triple-digit growth due to overall strong international demand. And orders from larger markets such as China, the United States, Russia, France and Italy also maintained at least double-digit growth. As of June 2011, German machine tools had booked a record 9.7 months to support production until next year. Global demand for 'Made in Germany' In the first half of 2011, German machine tool exports increased by more than 1/3 over the same period in 2010. While the U.S. economy remains shaky, Kapp said it has maintained a high level of investment in the auto industry. In the first half of the year, German machine tool exports to the United States increased by 67% year-on-year. At the same time, China has further consolidated its special status as Germany's largest export market. In mid-2009, the capacity utilization rate of the German machine tool industry plummeted to over 70%. By July 2011, the capacity utilization rate of the machine tool industry had risen to 95%. This phenomenon also appears in the data of employees in the machine tool industry. In the first half of 2011, the German machine tool industry employed more than 66,000 people, an increase of about 4% over the same period in 2010. Machine tool users will maintain double-digit investment growth in 2012 The world economic situation determines the development trend of the German machine tool industry, but some macroeconomic indicators have declined in recent weeks. Still, the world economy will continue to grow, albeit at a lower rate. Relatively small changes in production and investment activity of related industrial products are expected. Worldwide, the investment budgets of major users of the machine tool industry remain high, increasing by more than 14% in 2011 and 11% in 2012. In particular, large customers such as automobile and aircraft manufacturing have plans to make large strategic investments in new markets, new technologies and new models. Undoubtedly, the machine tool industry will benefit from this. Based on this, VDW expects that German machine tool production will grow further in the coming year.