In October 2023, demand for machinery and equipment from North Rhine-Westphalia was down 21% year-on-year in real terms.
Demand for machinery and equipment from North Rhine-Westphalia in October 2023 was down 21% year-on-year in real terms. Domestic orders were down 7% and orders from abroad were down 27%. The non-eurozone contributed to this foreign result with a drop of 42% and the eurozone with an increase of 20%.
In the less volatile three-month period from August to October 2023, incoming orders fell by 31% compared to the previous year. Domestic demand fell by 15% and orders from abroad dropped by 37%. Orders from the eurozone were down 9% on the previous year and 45% from the non-eurozone.
New business from outside the eurozone continues to be characterized by global uncertainties, whereas the large-scale plant business from the eurozone boosted order activity in October. The many uncertainties in the market continue to have a negative impact on investment activity. Companies are generally benefiting from their order backlogs.