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With a forecasted 8.1% GDP growth for 2021, China saw the first quarter GDP jump 18% YOY due to the low base of 2020. The manufacturing PMI has remained above 50 for more than a year and is expected to stay that way....
Foreign investments continue to pour into Central and South America, particularly in the automotive segments. FANUC breaks ground on an $8 million facility. Agriculture machinery and equipment see big gains. For more industry intel and tidbits, read on.
India’s manufacturing PMI for March was 55.4. IMTEX 2021 has been pushed back. There is, however, positive news for electric vehicles. For more details and other industry tidbits, read on.
This week, we start with a focus on Germany, the driving force of the European economy, where manufacturing has shown the strongest growth in factory activity in three years. We then move on to European aerospace with interesting developments...
The big news today is the opening of CIMT 2021 in Beijing. We have an AMT/USA pavilion at the show featuring 31 participating members. To celebrate, here are some real-time visuals of our first day at CIMT.
The news from our neighbors in Latin and South America continues to be quite positive. Automotive suppliers in Mexico, from ZF to Motherson, continue to expand with substantial investments to meet the increased demand.
India’s PMI continues to maintain its 57-plus run while vehicle, motorcycle, and scooter sales are off to a strong start. India, the world’s largest producer of two-wheelers, sold more than 1.3 million motorcycles and scooters in February alone.
In Europe, machine tool consumption is slowly recovering. It ended 2020 at nearly $15 billion (not including Eastern Europe), which was slightly better than projected. The demand is expected to continue to grow in 2021.
In 2020, a year full of challenges, China’s GDP grew 2.3% and is expected to expand 6% in 2021. This year is off to an impressive start with auto production growing leaps and bounds. New energy vehicles (NEV), particularly EVs, showed a 286% YOY increase.
There’s lots of good news from Latin and South America this week, including automotive developments in Mexico, projected growth in the truck and bus market in Brazil, Chile’s projected growth, FDI in Colombia, and Argentina’s supply chain localization.