Global Economic Outlook: 2015 Western Europe
Western Europe is expected to experience positive growth in 2015. While France and Italy are likely to level out contraction and experience the first signs of growth, other major economies, such as Spain, Germany, and the United Kingdom, are anticipated to gain further growth momentum.
The region’s manufacturing sector is expected to perform well in 2015 when compared to the last recessionary years. Increasing external demand due to the strong growth in the United States and Asia, accompanied by equally robust domestic demand in Spain and Germany, will fuel growth in Europe in 2015.
Exports will continue to serve as the main engine of growth in Spain, Germany, and Italy. However, over-dependence on exports alone will cost a few of the major economies (for example, Germany) their immunity against the economic volatility in the region.
About this report
Western Europe is likely to see improved growth in 2015 when compared to previous years. Increasing external demand, due to the strong growth in the United States and Asia, and strong domestic demand, are likely to steer the manufacturing sector towards a positive growth trajectory. Despite exports continuing to remain the primary engine of growth across Western Europe, over-dependence on the same is likely to result in poor immunity against the economic volatility in the region.
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