EU engineering: moderate rise in output and employment in turbulent times

Despite a turbulent year for the EU and the wider world, the European engineering industry’s performance remained stable in 2016 – with output set to grow by 1.0% by year-end. While this marks a slight year-on-year flattening of the growth rate over 2015 (1.3%), the forecast is for a renewed climb to 1.4% in 2017. “The European economy in general and the engineering industry in particular seem to have lost most of their volatility,” comments Tomas Hedenborg, President of Orgalime. “The business cycles, which were so typical of our industry in the recent past, seem to have disappeared between 2013 and 2016.” The main driver of rising output was a modest economic upturn in the European Union and worldwide. Productivity in industry and construction increased slightly and investment rates were on the up again. But a number of challenges continue to loom large for the engineering industry, as three of our key export markets – China, Russia and Brazil – face economic, social and political challenges.

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Published
18 November, 2016
Category
Press release
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