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

Author

Listed:
  • de Bondt, Gabe
  • Charalampakis, Evangelos
  • Kuik, Friderike
  • Morris, Richard

Abstract

This box summarises the main findings from contacts between ECB staff and representatives of 69 leading non-financial companies operating in the euro area. The exchanges mainly took place between 26 September and 6 October 2022. According to these contacts, overall activity had broadly stagnated in the third quarter of this year. Parts of the manufacturing sector had suffered declining sales and production, while in others, production growth was sustained by long order books and easing supply constraints. Services activity was more resilient, supported by digitalisation and tourism. The outlook was for a deterioration in activity in the fourth quarter. Price dynamics remained very buoyant in the third quarter, not least given energy cost pressures. However, an increasing number of firms did say that prices in their sector were either at, or nearing, a peak. Wage pressures continued to build and were increasingly becoming an additional cost concern for many firms. JEL Classification: E2, E3, L2

Suggested Citation

  • de Bondt, Gabe & Charalampakis, Evangelos & Kuik, Friderike & Morris, Richard, 2022. "Main findings from the ECB’s recent contacts with non-financial companies," Economic Bulletin Boxes, European Central Bank, vol. 7.
    • Handle: RePEc:ecb:ecbbox:2022:0007:5
    Note: 337418
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    Keywords

    Activity; Business; Prices; Survey;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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