Euro area manufacturers in a difficult situation: falling production, rising prices
September 2, 2024
Manufacturers in the euro area remain under severe pressure in the middle of the third quarter as production continues to fall in most countries. The decline in the number of new orders in 2024 has been the sharpest so far, leading to austerity measures as companies cut back on raw material purchases, recruitment and inventories. Business confidence fell to a five-month low. Despite this, although sales have fallen sharply, prices charged for euro area goods have risen for the first time since April 2023, while operating costs have been rising for the third month in a row.