EMEA Region
Gloom settles over Europe for 2019
January 2019
Gloomy seems to be the most used description of the business outlook for the EMEA Region in 2019
Annual business outlooks from our predominantly European members reveal high levels of uncertainty and pessimism in the economic outlook. Of 19 national reports reflecting business expectations, 15 forecast decline in 2019, three anticipate no change and only one country foresees growth.
The lone half-full glass belongs to Denmark, which edged out perennial growth leader Sweden among the Nordic countries.
Internal policies and events have stressed the major European economies in recent years. This year they are facing three significant new disruptors – a messy departure of the UK, President Trump’s trade war with China and the Russian sanctions.
The Czech outlook frets about a Brexit-driven vulnerability in Britain’s major import of Czech-made cars. Likewise, in Brussels, the UK represents 9% of Belgium’s exports.
Denmark is singled out by the International Monetary Fund as one of the countries most affected when Great Britain leaves the EU, impacting 60,000 jobs. The possibility of the U.S. introducing tariffs on imported cars has Germany in fear of a further slowdown in its automotive industry, with consequences to its neighbor Austria.
Not all is doom and gloom, however. Although Poland also faces a decline, it is coming off a record 5% GDP growth in 2018. It is also the first country from the former Soviet bloc to graduate from an
The links on this page will take you to the individual national reports. Please contact individual members for more information on business services.
