These companies are also hoping the former Soviet states will be able to create stable legal and economic environments. The weak international environment may have a negative impact on the European Union steel industry. A recovery is foreseen in the export of goods and services. Meanwhile, imports from all other countries have fallen. Domestic consumption has increased, investment has expanded and exports have grown.
Offshore investments are down and there has been reduced activity in the shipbuilding industry.
Overall private consumption fell last year and export conditions for steel businesses are not satisfactory. Apparent consumption is expected to remain at 1999 levels this year. Inflation is low and unemployment is falling. Investment increased during 1998 but fell in comparison last year, private consumption has risen. 1999 was the eighth consecutive year of economic growth.