Economy in Focus #7 - 2023 in Review – An economic potpourri

In the 7th edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, reviews the economic challenges and developments of 2023. The report highlights inflation, property market declines, and regulatory changes. Published in December 2023.

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Inflation eases but remains elevated

Inflation rates halved in 2023 but are still higher than desired. Despite central banks' aggressive rate hikes, inflation remains sticky, with its full impact likely to be seen in 2024.

Property prices under pressure

For the first time in a decade, European property prices declined in 2023 due to rising interest rates. Northern European countries, with higher household debt, saw the sharpest drops.

Late payment regulation overhaul

In response to rising late payments, the European Commission proposed expanding the Late Payment Directive to strengthen liquidity for SMEs and address long-standing payment issues across Europe.

Anna Zabrodzka-Averianov, Senior Economist at Intrum

Comment from Intrum's Senior Economist:

"2023 has been a year of economic strain, but we can see signs of stabilization. A recovery is likely to begin in 2024, although many challenges remain."

Looking back on 2023

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Previous editions of Economy in Focus:

Economy in Focus #6 - NPLs: A Decade-Long European Headache

In the 6th edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, delves into the decade-long challenge of non-performing loans (NPLs) across Europe. This report explores the impacts of NPLs on the European economy and the strategies for addressing them. Published in September 2023.

Economy in Focus #5 – Four key challenges that European companies face

In the 5th edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, examines the four key challenges that European companies face, including revenue disruptions, inflation fears, wage-setting struggles, and cost-cutting measures. Published in June 2023.

Economy in Focus #4 – Employment remains strong in Europe

In the 4th edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, discusses Europe’s resilient labour market amidst economic challenges. The report highlights stable employment, falling real wages, and rising consumer confidence. Published in April 2023.

Economy in Focus #3 – Downturn on the housing market

In the 3rd edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, provides insights into the downturn in Europe’s housing market, with a particular focus on the impact of rising interest rates on household debt. Published in February 2023.

Economy in Focus #2 – Generation X worst off

In the 2nd edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, explores the record-low consumer confidence in Europe, the impact of rising inflation, and how Generation X is most affected. Published in December 2022.

Economy in Focus #1 – Inflation reaches highest level in decades

In the 1st edition of Economy in Focus, Intrum’s Senior Economist, Anna Zabrodzka-Averianov, discusses the record-high inflation levels across Europe, the sharp rise in energy prices, and the impact on consumer confidence. Published in September 2022.