The pace of the downturn in the German electrical and electronics industry is slowing. The number of orders placed in December 2009 was only 8% lower than the year before, compared with a shortfall of 12% in November. Orders from German customers were down 7% year-on-year in December 2009, while foreign orders contracted by 8%.
This is a clear sign that the pace of the downturn is slowing steadily, mostly thanks to major orders, said Andreas Gontermann, chief economist at the German Electrical and Electronic Manufacturers Association (ZVEI, Frankfurt / Germany; www.zvei.org). ZVEI expects output to grow by 3-4% this year, with sales increasing to EUR 150 bn.