DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/tx2fdd/global_economic) has announced the addition of the "Global Economic Outlook: 2015 Western Europe" report to their offering.
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.
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.
Due to consistent external demand and effective product innovation, the European chemicals sector has been able to shield itself from the harsh recession in the region. With internal and external demand picking up, the sector is expected to record positive growth in 2015. Most of the growth in the German, Italian, and Spanish economies will be attributed to the chemicals sector.
The automotive sector continues to sustain growth in the region. All the major economies, including France, Germany, Italy, Spain, and United Kingdom, are likely to see good production and sales growth in 2015, especially in the small car segment. In 2015, the automotive sector is anticipated to be one of the highest value adds to the regional GDP.
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