EU's machine manufacturing industry already started to decrease at the beginning of 2024. Manufacturing decreased by 5.7% in the second quarter, following a 4.6% decrease in the first quarter. These figures are considered as a result of the negative trend that started in the fourth quarter of 2023.
The industry is expected to show the first signs of recovery by early 2025, as the global and regional economic conditions gradually improve and there is confidence in more stable economic growth. An increase is expected for 2025; however, it is not expected to be significant enough to recover the 2024 decrease.
European Union and global economic challenges impacted the machine manufacturing industry beyond forecasts in 2024. While the sector is expected to decrease by 1.9%, a decrease of 4.1% is expected at the end of the year.
Analysts stated that the economic slowdown in the EU, global financial imbalances, raw material supply problems, and rising energy costs prevent the sector from recovering. The negative developments also affected the expectations of the manufacturers for the coming period.
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