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La revue Forge et Fonderie n° 22
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News
March 22 2024

European Foundry Industry Sentiment, February 2024

European Foundry Industry Sentiment, February 2024:
Following a rise for the second month straight, FISI now
stands at 94 index points.
In February 2024, the European Foundry Industry Sentiment Indicator (FISI) experienced a
pleasing surge, with an uptick to 94.0 index points. This development reflects the second
consecutive increase for the FISI, the index experiences an increase of 1.1 points, settling at
94.0 compared to 92.9 in the previous month.
The current uptick in sentiment may partly be attributed to a moderation in the situation across
procurement markets, contributing to a mild easing of pressures. The pricing dynamics of raw
materials have settled into a new normal, persisting at levels that exceed those observed prior
to the onset of the pandemic. However, it is essential to highlight that the overall situation
remains tense, with considerable obstacles still to overcome. The industry faces ongoing
challenges like fluctuating demand and global economic uncertainties. These factors
underscore the fragility of the current improvement and emphasize the need for sustained
efforts to stabilize and strengthen the sector. While the small improvement in February is a
positive sign, it's important to remember that the European foundry industry still has a tough
road ahead. Staying alert and taking proactive steps will be vital to deal with the ongoing
challenges and ensure that the industry stays strong in the face of adversity.
Meanwhile the Business Climate Indicator (BCI) remains unchanged at -0.42 index points,
mirroring its value from January. This marks the eighth consecutive month that the BCI has
lingered below the critical threshold of 0 index points. Once again, the negative trend in the
BCI primarily stems from the assessment of export order-book levels, a reflection of persistent
challenges in this aspect. The ongoing geopolitical tensions in regions such as the Middle East
and Ukraine continue to exert significant influence on this trajectory, contributing to the sustained stagnation in the BCI.
The FISI – European Foundry Industry Sentiment Indicator – is the earliest available composite indicator providing information on the European foundry industry performance. It is published by CAEF the European Foundry Association every month and is based on survey responses of the European foundry industry. The CAEF members are asked to give their assessment of the current business situation in the foundry sector and their expectations for the next six months.
The BCI – Business Climate Indicator – is an indicator published by the European Commission. The BCI evaluates development conditions of the manufacturing sector in the euro area every month and uses five balances of opinion from industry survey: production trends, order books, export order books, stocks and production expectations.
Please find the chart enclosed or combined with additional information at www.caef.eu.

Background information on CAEF:
CAEF is the umbrella organisation of the national European foundry associations. The organisation, founded in 1953, has 22 European member states and works to promote the economical, technical, legal and social interests of the European foundry industry. At the same time, CAEF implements activities which aim at developing national foundry industries and co-ordinating their shared international interests. The General Secretariat is situated in Düsseldorf since 1997.
CAEF represents 4 400 European foundries. Nearly 260 000 employees are generating a turnover of 39 billion Euro. European foundries are recruiting 20 000 workers and engineers per year. The main customer industries are e.g. the automotive, the general engineering and the building industries as well as the electrical engineering industry. No industrial sector exists without using casted components.

Please find the chart enclosed or combined with additional information at www.caef.eu. 

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The Fédération Forge Fonderie is the French professional organization of metal shaping industries through forging, casting, metal additive manufacturing and related machining.

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