ldquoWe are glad to see that the machine tool consumption in Europe shows good pacerdquo commented Dr Frank Brinken chairman of the CECIMO Economic Committee and vicechairman of Starrag Holding AG ldquoUpgrading and modernizing its production base is an essential condition to keep the competitiveness of European manufacturing sector at high levelsrdquo

Despite Concerns, Solid Outlook for EU Machine Tool Sector

June 23, 2016
CECIMO presented an encouraging outlook for EU machine tool output and an even more optimistic view of the trend for machine tool exports, in spite of global industrial weakness.

The European Machine Tool Industry Association (CECIMO) concluded its annual general assembly this week with an encouraging outlook for its members’ industrial output and an even more optimistic view of the trend for machine tool exports. These were offered in spite of the evidence of global industrial weakness, the group acknowledged.

Brussels-based CECIMO is a union of trade associations for over 1,500 companies across the European Union, companies who are responsible for 97% of machine tool production in the region. They also comprise over 33% of the world’s machine tool production capacity. In addition to documenting trade and production developments, the group works to articulate policies for the machine tool sector.

Machine tool production in the EU rose 5% from 2014 to 2015, to €24.3 billion total, and CECIMO estimates now that this volume will remain even for 2016. This is based on the assumption that economic activity in Europe is stable, with indicators of strong consumer spending, a “very accommodative monetary policy,” and rising levels of business confidence, all of which point to an increase in capital investment in Europe.

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About the Author

Robert Brooks | Content Director

Robert Brooks has been a business-to-business reporter, writer, editor, and columnist for more than 20 years, specializing in the primary metal and basic manufacturing industries. His work has covered a wide range of topics, including process technology, resource development, material selection, product design, workforce development, and industrial market strategies, among others. Currently, he specializes in subjects related to metal component and product design, development, and manufacturing — including castings, forgings, machined parts, and fabrications.

Brooks is a graduate of Kenyon College (B.A. English, Political Science) and Emory University (M.A. English.)

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