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The economic contraction continues in 2016, as investments and private consumption contract further. Only in 2017 a very modest rebound is expected.

Growth is expected to remain above 3% but the economy remains vulnerable to an eurozone downturn and adverse developments in the automotive sector.

Political risks have sharply increased, which could result in economic repercussions. Higher credit risks in the corporate sector are a major issue.

Looking at Russia, Atradius finds that oil price hardly matters for country risk.

The sector benefits from a robust performance of the Czech economy, but producers dependent on energy/mining and power engineering face difficulties.

The rebound that started in 2014 continues in 2016, but overcapacity still remains a real concern for the French machinery industry in the long-term.

The general outlook remains positive, and margins are relatively high, especially in niche segments. However,competition from China is increasing.

Competition remains strong in the domestic market, especially among small and medium-sized machinery companies dependent on construction businesses.

Key success factors for Danish machinery businesses is their ability to streamline costsand continued investment in product development/new technology.

The Turkish machinery sector faces some troubles, with sales under pressure since 2015. Political uncertainty leading to less capital expenditure.