2017 Yearly Overview | Prysmian Group

PRYSMIAN GROUP 2017 YEARLY OVERVIEW The Eurozone did even better than the USA, and, after the initial pro-Brexit vote shock, grew at a rate of +2.4%, the highest in the last 10 years. This was a result of the European Central Bank's continued pursuit of expansionary monetary policies and the gradual growth in business and consumer confidence across the region. This strengthened recovery over the course of the year was also influenced by the outcome of French elections, which averted the ascent of anti-European parties. Germany accelerated from +1.9% to +2.5%, but Italy made the biggest progress, with an increase from +0.9% to +1.6%. Higher growth in the USA reflected a stabilisation in the political environment and a gradual recovery in oil-industry related activity. European Central Bank stimulus boosted the Eurozone The global economy posted a higher growth rate in 2017; global gross domestic product (GDP) accelerated to 3.7%, reflecting a marked improvement in advanced economies and more modest progress in emerging ones. The Eurozone and USA posted a stronger performance, accompanied by recovery in emerging countries such as Brazil and Russia. China’s growth meanwhile once again exceeded the average of other emerging countries. After slowing in 2016, US growth topped the 2% mark, benefiting from greater political stability and a gradual recovery in oil prices. World growth picked up in 2017, driven by the Eurozone and USA. Power cable demand improved, mainly due to a recovery in Brazil and growth in China, while telecom cable demand continued to climb thanks to strong optical growth. The economies of China, India and Southeast Asia were the main engines for power cables, while the Middle East was adversely affected by poor economic performance. GLOBAL CABLE DEMAND IMPROVED IN LIVELIER ECONOMIES