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Déjà Vu for the Austrian Machinery and Metals Industry

February 27, 2013

Austrian manufacturing technology exports to US overshadow EU downturn 

Similar to 2012, bad news in Europe contributed to an overall weak business environment for many. Whereas the Austrian metals industry has recently experienced a slight downturn in orders, the manufacturing technology industry  has remained strong. In fact, employment in this sector which makes production machinery has increased by 11% over the past two years, a strong sign of future confidence. This news mirrors economic data from one year ago.

How does an industry grow during a regional economic downturn? Perhaps the strength of export market of provides the best explanation for Austrian manufacturing technology. For the first nine months of 2012, machine exports went up by 7.3%. Perhaps the most interesting of all:  during this period exports to the US have boomed, with an overall increase of 29%. 
 

Author:
Martin Baminger, FMMI
Source:
Sector Outlook
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