European engineering industry on track for strong growth in 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.