Europe’s technology industries cut growth forecasts as war in Ukraine rages

After a strong start to 2022, Europe’s technology industries are forecasting sharply lower growth for the full year, hit hard by the impacts of the war in Ukraine. The latest biannual report from Orgalim forecasts 3.8% growth in nominal terms for the European mechanical engineering, electrical engineering and electronics, ICT and metal technology industries, despite healthy order books and double-digit growth last year.  

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About Orgalim: 

Orgalim is Europe’s largest industry network focused on advanced manufacturing. We bring together 48 associations representing Europe’s technology industries, comprising over 770,000 innovative companies, which directly employ 10.97 million people across Europe. Our membership spans the mechanical engineering, electrical engineering, electronics, ICT and metal technology sectors across 22 countries. Our industries develop and manufacture the products, systems and services that enable a prosperous and sustainable future. For more information, visit http://www.orgalim.eu/ or follow us on Twitter and LinkedIn.

Orgalim Press Contact 

Eugenia Forcat, Director of Communications, Tel: +32 478 403032, eugenia.forcat@orgalim.eu