A gradual recovery after a severe recession

19/11/2009

A gradual, but modest, recovery is expected in 2010 for the European engineering industry after the most severe contraction in 2009 since the 1970s. The volume of production is expected to fall by as much as 20% in 2009. Since financial markets are not yet functioning properly and capacity utilisation is at a record low, demand for investment goods, which represent 80% of the output of Orgalime industries will remain low. The volume of production at the level of EU 27 is therefore forecast to remain unchanged in 2010. This will inevitably have an impact on employment in the industry.

Adviser responsible : Adrian Harris