This week the General Assembly of CECIMO met in Izmir, Turkey. The latest Europe wide figures for the machine tool industry paint a similar, stable, picture to our own. There is significant weakness in the south of the continent but this is offset by growth in export markets.
The successful export performance confirms the competitiveness of European machine tools as Martin Kapp, the President of CECIMO, told delegates, “Due to the weak domestic markets, the European machine tool industry’s near future growth prospects are based on high foreign orders’ intake and strong demand in Asian, North and South-American markets.”
Commenting on the EU’s Industrial Policy, Mr Kapp declared: “The Commission’s target to increase the GDP’s share of manufacturing in the EU from 16% to 20% by 2020 is a quantitative expression of Europe’s reindustrialisation goal. It underlines a long-term commitment to help prepare Europe’s manufacturing base for the future.”
Next week sees the Chancellor deliver the Autumn Statement, he’s been urged to publish a similar target for the UK to make a reality of the rebalancing that everyone wishes for.
In this week’s Friday Brief we also have news of a free mentoring scheme for business people, a last call for UKTI Grants for SMEs wanting to exhibit at IMTEX (we processed one just this week so they are still available) and sadly a warning on scam exhibition listings.
Geoff Noon also publishes the monthly economic report which rounds up figures and indicators from across the UK economy.
Have a good weekend.