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Europe: Are perspectives bottoming out?

European Foundry Industry Sentiment, October 2019

The European Foundry Industry Sentiment fell slightly in October. The European foundries´ assessment of the current business situation was somewhat worse than in the previous month. By contrast, the outlook has improved slightly, but remains on a low level. This is in line with the slight improvement of the Business Climate Indicator of the Euro area.

The trade tensions have eased due to no hard Brexit on 31st of October and due to signs for a possible partial agreement in the US-China conflict. Nevertheless, the export prospects remain fragile for the time being and potential punitive tariffs on European passenger car and component deliveries to the US are still being considered. Against this background and given declining orders, the question arises to which extent the expectations will stabilise at a low level in the medium term.

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