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The Plastics and Rubber Machinery Association within the German Engineering Federation (VDMA) raised its 2011 growth forecast further.

In its December 2 press release, VDMA said the recovery that began in the last quarter of 2009 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 Association. "On that basis, we are raising our sales forecast for the current year from 18% to 22%."

German manufacturers' sales are set to rise to a new all-time high of just under six billion euros this year. "Between January and September, new orders increased by 15%," added Thorsten Kühmann, the association's Managing Director. "Orders from customers in Germany rose by 13% year on year, while those from abroad recorded a 16% 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."

VDMA added that according to its survey, the industry is anticipating a decline in sales of 7% in 2012. Ulrich Reifenhäuser summed up the mood in the sector, "This will have been a record year for many firms in the industry, but they expect the economy to slow down again next year."
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