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MNI BRIEF: High-Contact Services Face Headwinds: ECB Bulletin

(MNI) Frankfurt

The outlook Europe's high-contact services remains uncertain, with the ECB's latest Economic Bulletin citing the need to replace obsolete productive capacity, expand labour input and reallocate resources, alongside risks associated with long-term Covid-19 containment measures and the sharp withdrawal policy support as key determinants for medium-term growth.

Capacity utilisation in travel and tourism, food and accommodation, remains between five eight per cent below its pre-pandemic level, though continued improvement is expected.

MNI London Bureau | +44 20 3983 7894 |
MNI London Bureau | +44 20 3983 7894 |

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