ARC Advisory Group's latest round of economic reports relevant to the state of the automation and manufacturing industries show an increasingly positive trend, pointing to recovery. Developing markets in particular are growing again, albeit at nowhere near the same pace as before the global economic recession. While the global recession seems to be over for many countries, key markets such as North America and Europe, are still reeling from the damage inflicted over the past year, and it will take substantially longer for the developed economies of the world to recover, ARC says.
Meanwhile, the economic crisis has only exacerbated problems, such as the workforce shortage and modernization of the automation infrastructure. These problems will only further intensify once the recovery takes hold, according to the report. Capital project costs, however, still seem to be decreasing. If the current trends continue, we should see a substantial recovery of the market by the beginning of next year, though many continue to believe that we are in for another round of economic bad news before things get better.
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