CECIMO Releases the Economic and Statistical Toolbox for Q1 2022

30 June 2022

CECIMO Releases a new Economic and Statistical Toolbox looking at data for the first quarter of 2022. The first period of 2022 shows further positive trends in the recovery of Europe's Machine Tool (MT) Industry with orders reaching record levels. In line with that, the Industrial Production Index (IPI) shows a further improvement in Q1 2022 in the European Union (EU) as well as in the eurozone. Looking ahead, challenges such as supply chain disruptions caused by potential new lockdowns in China and the Russian war in Ukraine could slow the production growth in the following quarters. However, strong demand in the first quarter and the backlog of orders from last year, which can be observed in many sectors, should hold the production index steady over the next period.

Looking at the performance of the European Machine Tool Industry, new orders in Q1 2022 showed an impressive improvement over the same period last year. As reported later in the report, CECIMO8's foreign orders increased by 29%, while domestic orders increased by 19% over the same period last year. As a result, CECIMO8's total orders index was 26% above the same period last year and has reached record levels.

Based on the latest sources, we have updated CECIMO and world MT production data for 2021. The latest estimates show that global MT production grew by 19.7% in 2021, while production growth in CECIMO countries was slightly slower, around 11.6%. In this issue, you will also find CECIMO's first estimates of production for 2022 - CECIMO's MT production is expected to grow by about 12% in 2022. The latest Oxford Economic forecast (April 2022) shows that CECIMO MT consumption is expected to grow by approximately 19% in 2022 and 11% in 2023. In total, MT consumption is expected to increase from around 15.1 billion euros in 2021 to around 17.9 billion euros in 2022 and reach pre-pandemic levels in 2023. According to initial estimates, CECIMO total MT exports are expected to increase by about 9% in 2022, while total MT imports are expected to increase a bit faster (12%)....