LOW OIL PRICE FORCES ARAB COUNTRIES TO REFORM
Since 2014, oil producing countries in the Gulf region have had to adjust to low oil revenues, and the need for economic and social reforms is increasing. Saudi Arabia is pushing ahead with a plan of action that is likely to be at least partly copied by neighboring countries. The reforms will bring both risks and opportunities for the mechanical engineering industry. An analysis.
EUROPEAN ECONOMY: LACK OF MOVEMENT
The slowdown of the Chinese manufacturing sector and the recession in Russia and Brazil have had a dampening effect on the European economy, although all the signs point to a modest rise in GDP of 1.8 percent for the eurozone in 2016. In mechanical engineering, VDMA researchers predict price-adjusted growth in turnover of 1 percent. But the situation in Europe remains fragile.