The fourth-largest economy of the European Union (sixth in Europe overall), Spain, with a nominal GDP of about $1.5 trillion, was particularly affected by the pandemic. The recovery has been slow. However, the forecast for the year is for 5% growth.
In this week’s edition, we focus on France, with a few other general EU considerations. As the third largest economy in Europe, and the seventh in the world, France is not all about food. Their manufacturing PMI is hovering around 59 and relies heavily...
With one of the industry’s major manufacturing technology shows, EMO Milano, coming up in October, we thought we would focus this week’s European news on Italy. With an April record-breaking PMI above 60, substantial government investment incentives...
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...
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.
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...
After a very sluggish 2020, due in no small part to the pandemic, European manufacturing metrics and opportunities are improving. The EU is making vast investments in the future of electric vehicles and renewable energy, and the defense sector remains...
It has been a particularly painful 2020 for machine tool sales in Europe due in no small part to reduced auto sales and output. On the bright side, the lull has allowed companies to focus on EV and hydrogen programs that will help drive the industry in...
November: The European macroeconomic figures for the third quarter show a positive trend. For the month of September, GDP growth for the EU was 12.7%, compared to –11.8% just three months ago. Similar growth is seen in non-EU countries like the U.K....
Europe’s economic recovery continues to struggle with a resurgence of the pandemic, jeopardizing progress. Industrial production was down double-digits from a year ago but has been improving since June to a recent -7.7%. September’s Purchasing...
