Europe shifted away from manufacturing and reached a critical threshold.
Potential explanations for this trend can be found in the financial and construction bubbles that grew before the financial crisis and in a faster decline of manufacturing compared to services during the crisis.
Europe needs its real economy to get back in shape and re-industrialize in order to support its much-needed recovery of economic growth and jobs. Europe has the means to successfully compete in the global market.
Europe’s status of world-leader in many strategic sectors such as automotive, engineering, space, chemicals and pharmaceuticals underpins this.
With industry accounting for four fifths of Europe's exports and 80% of private sector R&D investment coming from manufacturing, what is needed is renewed confidence and consequently more robust investments, for Europe's industry to start growing again.
Our Speakers; Pedro de Sampaio, Head of EUREKA, Peter Köhler, CEO of Weidmüller Group, Loïc Armand, President of L'Oréal France, and Daniel Calleja Crespo, Director-General for Enterprise and Industry; will discuss further on this topic with the help of our moderator, Sarah Gordon, Europe Business Editor of the Financial Times, during the EBS.