During the General Assembly that took place in Bordeaux on 6 July 2015, Cecimo’s Economic Committee confirmed that the value of European machine tool production increased to €22.8bn in 2014. The Cecimo countries exported machine tools in 2014 for a value of €18.2bn, which is marginally less than in 2013, the association reports. It adds that this can be explained by the slowdown of economic growth in the emerging markets. On the other hand, the changes of consumption pattern in those counties and the improving growth outlook in developed markets forecast a growth in our exports this year.

According to Cecimo, the increasing business confidence supports an investment recovery in the main machine tool consumer sectors. European machine tool consumption grew 7% to 13.5bn in 2014. Taking into account the positive trend in industrial capacity utilisation, European manufactures would look for possibilities to expand their production lines, Cecimo said. Moreover, after a decline in 2013, the machine tool imports to Ceciom countries increased to €8.9bn euro in 2014. The weak euro, making imported goods relatively more expensive, will also influence those flows this year, Cecimo said.

“On one hand, we see growth slowing down in emerging markets, the risks relating to possible Greek exit from the euro zone and the effects of EU sanctions on Cecimo export sales to Russia," explained Dr. Frank Brinken, chairman of Cecimo's Economic Committee and a member of the Board of Directors, Starrag Holding Group. "On the other hand, we see a solid demand in advanced countries. The weak euro will certainly have a positive effect on machine tools exports. Therefore, our expectations for 2015 are still on the positive side.”