EU economy is gaining momentum

The forecast of the Economic Committee of the European Steel Association EUROFER confirms that the EU economy, including the metallurgical sector, is well on its way to recovery, providing evidence of an improvement in its economic foundations and productivity compared to the recent past. Especially after the restructuring efforts have borne fruit.

Strengthening performance in the steel sector, mechanical engineering and other industries suggests that the recovery will pick up steam throughout the remainder of 2014, possibly continuing into 2015.

The economic growth of the European Union is expected to become more balanced, and the factors of growth will work in more vulnerable countries, in the so-called periphery of the eurozone. This was made possible thanks to reforms and the strengthening of the export sector.

The improved public and financial situation should ensure a less negative position in the economies of the countries of the periphery of the European Union, which largely corresponds to the indicators of the initial period of the current year. EUROFER forecasts the EU economy to grow by 1.4 percent in 2014, after which growth will reach 1.8 percent in 2015.