According to the European Industrial Cooperation Committee in June machine tool (CECIMO) European machine tool consumption for 2009 forecast, while referring to the actual number of recent orders, CECIMO expects machine tool production in 2009 CECIMO all of its member countries will shrink 34%, the global machine tool industryIt will fall to 2005 levels.
Currently, the economic outlook remains grim European manufacturing, CECIMO expectations by increasing export market to maintain investment in new machine tool products, they first hope Chinese and Indian markets. CECIMO economic experts believe that the last two months a number of international and domestic manufacturing of leading business indicators seem to point to a stable level, is expected to the current economic recession may hit bottom at the end of 2009.