- 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.