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Overview
- Our Index is contracting for the first time since Q4 2016 on a Y-o-Y basis
- Machinery markets are at a turning point in business cycle
- Fast-moving markets have already turned negative in Q4 2018 on a Y-o-Y basis, many followed on Q1 2019
- Heavy machinery markets started to show negative
Y-o-Y growth in Q2 2019
- Electronics and semiconductors in particular are currently slowing down the market
- Machine tools follow and the downward trend will accelerate over the next quarters
- Downturn also strongly affecting other industries that have been struggling in recent years (pulp & paper, printing, textiles)
- Quarter-over-quarter market development is more dynamic, with shorter cycles
- The downturn began to accelerate as early as Q4 2018
- These charts add the index levels to the overall picture
- Electronics and semiconductor machinery peaked in 2018 at 3 or 4 times 2006 levels
- Oil & gas and plastics and rubber experienced a strong boom, but also crashed and have not yet returned to a healthy growth path
- Printing and metal forming have been moving sideward for quite some time
- Some markets have experienced nearly constant growth since 2010 (compressors, packaging, HVAC, elevators, material handling, lumber & woodworking)
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