France and Germany’s economies are the worst-performing in Europe, while the UK is seen as doing moderately well. On the up side, Spain and Italy are seeing distinctly more positive signs.
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European companies have been facing an increasingly difficult business environment, due to soaring inflation, as well as higher borrowing costs, as interest rates continue to remain uncomfortably high. As such, several companies across industries have had to halt or postpone projects, due to the cost of debt rapidly becoming unaffordable. This has also impacted capital investments and hiring.
On the consumer side, increasing inflation has caused price rises across a variety of necessities and services. Surging interest rates have also bumped up the cost of mortgages, leaving consumers with less disposable income.
Key insights into the continent’s distress sector
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