European Commission - Growth

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Impact of the economic crisis on key sectors of the EU, October 2009 Data tal-pubblikazzjoni: 30/10/2009, L-aħħar aġġornament: 23/12/2009

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DG ENTR/Development of Industrial Policy.

This series of reports is prepared on a monthly basis by DG Enterprise and Industry. It aims at describing the impact of the economic crisis on manufacturing and construction industries.

Recent stabilisation of manufacturing output and an increase of confidence generally point to an improving outlook for the EU industry. However, the situation continues to vary considerably between sectors and Member States and a number of factors still call for caution. These include a continuing decline of output in construction, the fact that both output levels and confidence indicators are still at low levels in absolute terms and the likelihood of a further deterioration in labour markets reflecting the typically delayed reaction of employment to output reductions and the phasing out of short-time working schemes. Looking to the future, there is a risk that restricted availability of finance on favourable terms to firms could slow down an economic recovery. SMEs in particular appear to suffer from difficult access to short term finance, including export credits and trade finance that have declined considerably.

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