European engineering industry on track for strong growth in 2017

19/12/2017

The European engineering industry is on track for strong growth in 2017 and 2018, as the benefits of industrial digitisation and the rise of new data-driven business models begin to pay dividends across the sector.

Official figures for 2016 put the total turnover for the EU engineering industry at €1,997 billion, while employment stood at 11 million. The forecast growth in output of 4.0% for 2017 has been accompanied by a general economic recovery both within the EU and globally. This upward trend has been mirrored in investment figures, which are climbing again following a period of underinvestment between 2010 and 2015 – something that has been reflected in a positive upswing in business confidence indicators over the last twelve months.