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The outlook for the machinery industry is promising, as the Italian economy is expected to grow 0.6% in 2015 and 0.9% in 2016 after two years of contraction.

Despite the UAE’s overall diversification, the lower oil price is expected to take its toll on economic growth.

Tunisia’s economy is expected to grow moderately in 2015 and 2016, supported by increased demand from the eurozone.

Saudi Arabia’s GDP growth is expected to slow down to 3.0% in 2015 following a growth of 3.6% in 2014.

An expected rebound in agriculture will lead to higher GDP growth in 2015, forecast to increase 4.6%. Growth is also sustained by increasing exports, mainly to the eurozone.

In 2015, Kuwait's economic growth is expected to decrease to 1.7% due to the lower oil price and decreased oil production.

Despite its growing economy, Japan faces major demographic challenges. There is an urgent need to make the labour market more flexible to achieve a sustainable rebound and boost economic performance.

The UK economy expanded by 2.6% in 2014, the fastest pace of growth since 2007. While consumer spending was the main driver, real fixed investments also increased.

The rebound of the Dutch economy is expected to accelerate in 2015, with export growth accompanied by a recovery in private consumption, industrial production and investment.

In 2015, Ireland’s economy is forecast to grow by 3.6%, backed by exports to the US and UK where demand is picking up. Private consumption is expected to increase further.