This box summarises the findings of recent contacts between ECB staff and representatives of 95 leading non-financial companies operating in the euro area. According to these exchanges, which took place between 16 and 26 September 2024, business momentum slowed somewhat over the summer, mainly as a result of declining confidence in the industrial sector, causing firms to scale back investment and focus on cost cutting. Meanwhile, the anticipated recovery in consumer spending was still rather patchy. Price growth moderated further overall, mainly on account of some easing in services prices. Wage growth was expected to slow further next year, while still compensating to some extent for past inflation.
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