German Machinery Industry Expects Sales Growth in 2014

German Machinery industry, after experiencing a period of recession this year, is expected to see further sales growth in 2014. Thomas Lindner, Chairman of VDMA, said on Oct. 17 in a membership meeting in Stuttgart that the actual growth rate is expected to reach 3% in 2014 and the total value of production this year will be merely EUR195 billion (a 1% decline). Based on the statistics by VDMA, the total number of employees in German machinery industry this year calculated as of this July is 0.984 million, 11,000 more than the corresponding period last year. As a result, many industries have been preparing for the upcoming growth next year.