Martina di Sano
- 10 November 2022
- ECONOMIC BULLETIN - BOXEconomic Bulletin Issue 7, 2022Details
- Abstract
- Euro area motor vehicle output fell by approximately one-third between June 2018 and July 2022. This can be explained by factors associated with the more stringent emissions tests implemented in the EU, the EU regulation on carbon dioxide emissions, the transition towards electric vehicles, supply chain disruptions, the rise in energy costs and, more recently, the increasing macroeconomic uncertainty related to the war in Ukraine. Euro area car exports also decreased at the same time. The transition to greener motor vehicles and the future evolution of supply bottlenecks are key factors shaping the outlook for euro area car production and exports in the coming years.
- JEL Code
- E31 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Price Level, Inflation, Deflation
E32 : Macroeconomics and Monetary Economics→Prices, Business Fluctuations, and Cycles→Business Fluctuations, Cycles
F10 : International Economics→Trade→General
L62 : Industrial Organization→Industry Studies: Manufacturing→Automobiles, Other Transportation Equipment
- 7 November 2022
- ECONOMIC BULLETIN - BOXEconomic Bulletin Issue 7, 2022Details
- Abstract
- 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
- 14 June 2022
- THE INTERNATIONAL ROLE OF THE EURO - BOXThe international role of the euro 2022