European business cycle indicators : 4th quarter 2024: Investment in the manufacturing and services sectors : results from the October/November 2024 survey : special topic

The special topic analyses the results of the questions on investment included in the October-November surveys for the manufacturing and services sectors, enquiring about business investment in 2024, as well as plans for 2025. On aggregate in the EU, managers' assessment of the change in investment in their firm points to still positive growth, though with a sharp slowdown compared to the previous year and a divergent trend between the manufacturing and the services sectors. In manufacturing, managers reported a slight decline in investment in 2024, but expect an increase in 2025. In contrast, services sector managers reported continued increase in investment in both 2024 and 2025, though at a significantly slower pace than in 2023. The survey also provides information on the purpose of investment (replacement, extension of production capacity, streamlining of production, other) and the factors driving it (demand, financial conditions, technical, other).