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Hannah-Maria Hildenbrand

7 November 2022
Economic Bulletin Issue 7, 2022
This Box provides an assessment of trends in European trade in goods and the tourism sector in 2022 using Purchasing Manager Indices (PMI). For goods trade, the analysis shows that bottlenecks in the international supply chain tend to precede upward pressures on import prices for intermediate goods. These pressures are now slowly easing as export demand weakens and supply chains adjust. For services, an earlier surge in bookings in the tourism sector has led to higher prices in that sector. Higher input prices in the tourism and recreation sector, waning pent-up demand for travel, falling real incomes and rising uncertainty may start to dampen demand for European tourism and recreation trade in services in the coming months.
JEL Code
E31 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Price Level, Inflation, Deflation
F10 : International Economics→Trade→General
L83 : Industrial Organization→Industry Studies: Services→Sports, Gambling, Restaurants, Recreation, Tourism