Economic Outlook 2006/2007

3 May 2007

The European engineering industry reached a growth in volume of production of 6.6 percent in 2006, the highest growth rate since the year 2000. European engineering expects another favourable year in 2007. Industry is expected to further expand and Orgalime’s economists are forecasting that output in the European engineering industry, the largest EU manufacturing sector, will rise by 4.3 percent in 2007. Demand is strong at present, but lack of capacity and manpower are becoming a real problem and could result in a gradual slow-down of the industry’s expansion in 2007.