European Central Bank survey shows Eurozone business momentum slowing due to competitiveness, green transition uncertainties, high costs, and political issues.

A recent European Central Bank survey reveals a slowdown in business momentum within the Eurozone, driven by competitiveness concerns, green transition uncertainties, high costs, and political issues. While the service sector supports modest growth, manufacturing, particularly in Germany and France, is struggling, especially the automotive sector. Businesses are cutting investments, affecting consumer confidence, and moderating price growth, which may prompt the ECB to consider further interest rate cuts.

October 18, 2024
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