European Foundry Industry Sentiment continues to decline

摘要

Due to the socio-economic lockdown caused by the Covid-19 pandemic, the European Foundry Industry Sentiment continued to decline in April. This was primarily due to the deterioration in expectations for the coming six months. Because Covid-19 has a strong impact on the automotive industry and machine manufacturers, the European foundries are facing a sharp drop in incoming orders and consequently lower production. But the sentiment does not show the full scope of the challenging impacts, because the response rate this month was lower than usual. However, the BusineB Climate Indicator visualizes the negative mood of industrial companies in the Eurozone: the BCI decreased dramatically to -1,81 points. But it remained above the record low of April 2009 during the financial crisis.