Reposted from Manufacturing & Technology News
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Europe’s New Industrial Policy Targets Manufacturing To Spur Economic Turnaround
The European Commission has issued an official “Industrial Policy” aimed at boosting the competitiveness and output of its manufacturing sector. The Commission says that Europe must increase the share of manufacturing to 20 percent of GDP by 2020, up from 16 percent today. The reason: a stronger manufacturing sector will enable “growth and economic recovery,” says the EC’s “Industrial Policy,” issued on October 10 in Brussels.
“We want to give a signal for people to understand that manufacturing matters and we need to reverse the trend of a declining share of industry in the European economy because industry is really key for competitiveness and growth,” says Didier Herbert, European Commission Director for Enterprise.
