The fall in manufacturing and services activity in the euro area: foreign versus domestic shocks

Roberto De Santis ()

Economic Bulletin Boxes, 2020, vol. 3

Abstract: This box suggests that between January 2018 and February 2020 both foreign and domestic factors contributed substantially to the decline in manufacturing growth in the euro area, while services were more resilient. Economic activity fell sharply in March 2020 as a result of the spread of the coronavirus (COVID-19), although part of the drop in manufacturing and services is explained by domestic factors. Owing to the coronavirus and the associated containment measures, the economic outlook remains highly uncertain. JEL Classification: E32, F44, C50

Keywords: Economic activity; Foreign spillovers; Pandemic shock (search for similar items in EconPapers)
Date: 2020-05
Note: 185689
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2020:0003:2

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