EU food and drink firms ‘recession proof’

By Mike Stones

- Last updated on GMT

Related tags: Industry, European union

European food and drink manufacturers represent not only the EU’s largest manufacturing sector but also one of its most stable, according to industry representatives FoodDrinkEurope.

Its latest report - Data & Trends of the European Food and Drink Industry 2011​ - revealed the sector accounts for 16% of the union’s total manufacturing turnover.

It is also the union’s largest employer – providing 4.1M people with jobs directly and millions more indirectly.

Continued stability

The report also noted: “As a non-cyclical sector, the food and drink industry showed continued stability during the recent economic downturn. The sector has outperformed the wider manufacturing sector in the EU.”

Food firms registered output growth of 1.3% during period between the first quarter of 2008 and the third quarter of last year.

Meanwhile, the output of the general EU manufacturing sector fell by 7.9%.

Food and drink manufacturers also reported a lower decline in employment than EU manufacturing as a whole.

More follows.

 

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