Economic development in Europe lost significant momentum in 2023. According to estimates by the EU Commission, the economic area recorded only minimal growth and a weak economic situation overall. In order to counteract the high inflation, the European Central Bank (ECB) raised interest rates in several steps (interest rate turnaround). This restrictive monetary policy dampened demand and investment. Despite a slowdown over the course of the year, inflation remained well above the ECB's target in most countries. From a global perspective, there was also little economic stimulus, as important trading partners of the European economy also experienced a slowdown. Geopolitical tensions such as the conflict in the Middle East also increased uncertainty in the economy.
This report provides information on the state of corporate stability in Europe with regard to insolvencies and the risk of insolvency. For medium-sized export companies in particular, which do not have their own production or sales bases in other European countries, it is crucial to know what economic risks exist for their business partners over the border.
Download full study below:
Source: Creditreform Press Releases
Write a comment