The ECB's quarterly survey of enterprises shows that the business momentum of Eurozone companies has further slowed, but overall economic growth is likely to maintain a positive trend as the expansion of the service sector offsets the decline in the manufacturing industry. Since Germany, the largest economy in the Eurozone, may fall into recession, the Eurozone economy has hardly grown. The ECB lowered interest rates for the third time this year on Thursday, hoping to stop the economy from falling further. The 95 large non-financial companies surveyed were depressed, reflecting growing concerns about competitiveness, uncertainty about green transformation, high costs, and political development. The ECB said, “This has led companies to cut back on investment and focus on cutting costs, which has also dragged down consumer confidence.” The survey was conducted from September 16 to 26 and announced on Friday.

The ECB's quarterly survey of enterprises shows that the business momentum of Eurozone companies has further slowed, but overall economic growth is likely to maintain a positive trend as the expansion of the service sector offsets the decline in the manufacturing industry. Since Germany, the largest economy in the Eurozone, may fall into recession, the Eurozone economy has hardly grown. The ECB lowered interest rates for the third time this year on Thursday, hoping to stop the economy from falling further. The 95 large non-financial companies surveyed were depressed, reflecting growing concerns about competitiveness, uncertainty about green transformation, high costs, and political development. The ECB said, “This has led companies to cut back on investment and focus on cutting costs, which has also dragged down consumer confidence.” The survey was conducted from September 16 to 26 and announced on Friday.