Recent findings from a CECE flash survey show that lack of future demand is more troubling than current production disruptions. Periodic updates of the CECE flash survey on Covid-19 are being used by CECE to keep the industry and stakeholders informed of the impact the crisis is having on manufacturers of construction machinery. See the full results here. The first edition of this flash survey painted a gloomy picture for the European construction equipment industry facing the consequences of the Covid-19 outbreak. Over 60% of the survey respondents expect to be significantly impacted. Read more on this survey here.
According to the EU official Spring Economic Forecast, released on 6th May, the euro area economy will contract by a record 7¾% in 2020 and grow by 6¼% in 2021. The EU economy is forecast to contract by 7½% in 2020 and grow by around 6% in 2021. Read more.
On 17th April, the European Commission published the results of the Directorate General Trade (DG Trade) economic analysis on 'the impact of the Covid-19 pandemic on global and EU trade'. The study estimates a 9.7% decrease in global trade for 2020. Read more here.
On 30th March CECE has published its Annual Economic Report 2020 in which CECE announces measures against the Covid-19 disruptions. Read the full press release here.
Moreover, on 30th March CECE has organised its first Online Press Conference where the results of the flash survey on Covid-19 crisis were presented. You can see the recording from the conference on our YouTube channel.
Read the 'COVID-19: Joint Statement by European mobile machinery industry'. The European industry associations representing the non-road mobile machinery sector call on the EU to adopt swift measures in response to disruptions caused by the COVID-19 pandemic.
With the spread of Covid-19 across Europe, the European institutions adopted measures to support the European economy against the prospect of a downturn. Find out the EU measures in response to the Covid-19 crisis here.
Read also the European construction sector's call for urgent measures to protect workers’ health, support economic activity and accelerate the recovery.