Main findings from the ECB’s recent contacts with non-financial companies

Catherine Elding, Johannes Gareis, Friderike Kuik and Richard Morris

Economic Bulletin Boxes, 2023, vol. 5

Abstract: This box summarises the findings of recent contacts between ECB staff and representatives of 73 leading non-financial companies operating in the euro area. According to these exchanges, which took place between 26 June and 5 July, aggregate activity continued to stagnate in the second quarter of 2023, with differences across sectors still notable. Activity declined in the construction and intermediate goods sectors and in related transport and logistics services. However, consumer spending was proving more resilient than many expected. The growth rate of selling prices continued to decelerate, especially in the industrial sector, as non-labour input costs stabilised. Expectations for wage growth remained strong but showed some signs of moderation when looking forwards to 2024. JEL Classification: E2, E3, L2

Keywords: Activity; Business; Prices; Survey (search for similar items in EconPapers)
Date: 2023-07
Note: 2322645
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