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Just a downturn, no meltdown

November 28, 2012

Austrian machinery and metals industry analysis identifies European sectors in recession  

The Association of the Austrian MACHINERY & METALWARE Industries published an interesting outlook in November, 2012 on the metals and manufacturing technology sector in Austria, which is both concise and  well-researched.

It basically confirms an EU recession.  The report also makes the point that the recession, which is confirmed with data, is not a crisis.  The affect on Austria has not been severe as it continues to have a strong European and global position. Whereas lending criteria from banks is expected to continue to be tight, metal prices have seen only a temporary decline.

The report is available here .