FRANKFURT, GERMANY (Dec. 5, 10 a.m. ET) — VDMA, the German Plastics and Rubber Machinery Association. has raised it sales forecast for German plastics and rubber machinery sales — but the group is predicting a decline in 2012.
According to the association, the recovery that began in the last quarter of 2009 was sustained in 2011.
“The growth in incoming orders for German plastics and rubber machinery continued into the third quarter,” said Ulrich Reifenhäuser, chairman of the VDMA. “On that basis, we are raising our sales forecast for the current year from 18 to 22 percent.”
As a result German manufacturers' sales are set to rise to a new all-time high of just under 6 billion euros ($8 billion) in 2011.
“Between January and September, new orders increased by 15 percent,” added Thorsten Kühmann, the association's managing director. “Orders from customers in Germany rose by 13 percent year-on-year, while those from abroad recorded a 16 percent increase over the same period. However, based on last year's very high level, the rates of growth in incoming orders slowed as the months went by.”
Frankfurt-based VDMA, however, anticipates a decline in sales of 7 percent in 2012. “This will have been a record year for many firms in the industry, but they expect the economy to slow down again next year,” Reifenhäuser said.