CECE has releases the Annual Economic Report 2020 and a video that include information on the macro economic situation, the performance of the construction sector, the main segments o the European construction equipment industry.
CECE reports that there has been a modest development of the market in 2019, although the expected decline came in 2nd semester and announces measures against the COVID-19 disruptions.
CECE had forecast a “soft landing” with a modest market decline across the industry, total sales in Europe in 2019 grew by 3.4% compared to 2018. However, the slow momentum over the year was indeed in line with expectations and the market turned negative and decline by 0,1% and 2.5%, respectively, in the third and fourth quarters.
In 2019 The European market reached a new high after the economic crisis of 2008. “2019 was better than we had expected, the underlying demand has remained stable and the bauma effect materialized itself in second quarter”, said Secretary General Riccardo Viaggi.
The report includes a detailed performance on the market in 2019. Most regions in Western and Northern Europe came from already high levels and a stable development in 2019 or even growth. Southern, Central and Eastern European markets recorded growth on average.
According to data for 2020, early this year, the CECE Business Climate Index showed an optimistic trend, which again turned into dramatic decline in March with early sign of the COVID-19 disruptions. The entity informs that any forecast has become impossible due the severe impact on the construction equipment industry as well as the economy in general.
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