Alex Melemenidis
- 25 July 2025
- ECONOMIC BULLETIN - BOXEconomic Bulletin Issue 5, 2025Details
- Abstract
- This box summarises the findings of recent contacts between ECB staff and representatives of 72 leading non-financial companies operating in the euro area. According to these exchanges, which took place between 23 June and 2 July, activity growth had slowed in recent months as geopolitical and tariff-related uncertainty dented business and consumer confidence. The employment outlook had consequently also worsened. Price growth was moderating, mainly due to downward pressure on prices in the manufacturing sector caused by weak demand and increased import competition. Firms remained confident that wage growth would continue slowing.
- JEL Code
- E2 : Macroeconomics and Monetary Economics→Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
E3 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles
L2 : Industrial Organization→Firm Objectives, Organization, and Behavior