文章基本信息

标题：Main findings from the ECB’s recent contacts with non-financial companies
本地全文：下载
作者：Gabe de Bondt ; Friderike Kuik ; Richard Morris 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2021
卷号：2021
语种：English
出版社：European Central Bank
摘要：Contacts reported strong growth in activity overall, but many said that supply constraints were increasingly limiting their ability to meet demand. Manufacturers described healthy order books and long delivery times, but shortages of inputs made it difficult for production to keep pace with orders. The acute shortage of semiconductors continued, and the spread of the Delta variant of the coronavirus (COVID-19) in Asia had further affected chip supplies. This resulted in a sharp drop in automotive production and in demand for related intermediate inputs. By contrast, contacts reported growing demand for many non-durable consumer goods and continuing robust demand for household durables, in turn sustaining demand for most intermediate goods. Faced with strong order books, most contacts said that manufacturing activity was being hampered by shortages of materials and components, also related to congestion at container shipping ports. Activity in the construction sector was also hindered by shortages of materials and labour, despite strong or recovering demand for both residential and non-residential investment. Developments in retail and transport services reflected the continued strong demand for manufactured goods. Contacts elsewhere in the services sector generally reported steady or robust growth in activity. Leisure travel, hospitality and recreation services had recovered quite strongly over the summer, but activity in these sectors remained markedly below pre-pandemic levels. Demand for IT and telecommunications services remained solid, while media and advertising services were steadily recovering from pandemic-induced lows.