Uncover the latest international news and gain resources to operate successfully in the global marketplace.
This week, we start with a focus on Germany, the driving force of the European economy, where manufacturing has shown the strongest growth in factory activity in three years. We then move on to European aerospace with interesting developments...
The big news today is the opening of CIMT 2021 in Beijing. We have an AMT/USA pavilion at the show featuring 31 participating members. To celebrate, here are some real-time visuals of our first day at CIMT.
The news from our neighbors in Latin and South America continues to be quite positive. Automotive suppliers in Mexico, from ZF to Motherson, continue to expand with substantial investments to meet the increased demand.
India’s PMI continues to maintain its 57-plus run while vehicle, motorcycle, and scooter sales are off to a strong start. India, the world’s largest producer of two-wheelers, sold more than 1.3 million motorcycles and scooters in February alone.
In Europe, machine tool consumption is slowly recovering. It ended 2020 at nearly $15 billion (not including Eastern Europe), which was slightly better than projected. The demand is expected to continue to grow in 2021.
In 2020, a year full of challenges, China’s GDP grew 2.3% and is expected to expand 6% in 2021. This year is off to an impressive start with auto production growing leaps and bounds. New energy vehicles (NEV), particularly EVs, showed a 286% YOY increase.
There’s lots of good news from Latin and South America this week, including automotive developments in Mexico, projected growth in the truck and bus market in Brazil, Chile’s projected growth, FDI in Colombia, and Argentina’s supply chain localization.
This year, India is predicted to have the highest GDP growth of any large country at more than 11%. The PMI is above 57, and business has resumed at almost pre-pandemic levels.
Although Europe is often looked at as a whole, individual country status can vary widely. In 2020, the average loss of GDP was about 5% for the 27 countries of the European Union, but for some economies, it was more painful. However...