Lack of demand continues to be holding back EU industrial growth. Recent business survey data through to October show a further drop in economic sentiment, capacity utilisation and orderbook. The main factor cited by European companies limiting production output is demand and not factors such as material or labour shortages that were an issue two years ago. Trade statistics reflect this continued weakness of European industry – particularly in Germany. However, the overall gloomy picture hides strong performance in some individual markets. This article provides commentary on the latest industrial survey figures in the context of import and export developments to key markets.
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