CECIMO: the European machine tool production is increasing

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Low business confidence in advanced economies and slowing growth in emerging markets influence the global machine tool production. However, the return of economic growth in the EU in the second quarter of 2013 gives the European machine tool sector reason for cautious optimism. CECIMO (European Association of the Machine Tool Industries) forecasted that the growth of production will stabilise, reaching to 22.3 billion euro in 2013. European machine tools are increasing their share of the world machine tool production. CECIMO has estimated a slight increase in its share of global production from 32% in 2012 to 34% in 2013. Despite gradual economic recovery, the investment in production facilities remains subdued in Europe. But CECIMO estimated the machine tool consumption will find a growth path in 2014. The record level of 18.8 billion euro machine tool shipments in 2012 reflects the outstanding export performance of the industry. But slowing growth in European machine tool sector’s most important emerging markets influences the forecasts for 2013. The exports are estimated to record 18.3 billion euro in 2013 which is the second best result of all times.

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