Past Events

Date Events
Walter van Hattum, from the European Union Office in Hong Kong
Business Confidence in Europe

Walter van Hattum, from the European Union Office in Hong Kong, gave members an interesting update into how Europe’s economy is recovering now that most countries have put the pandemic behind them. Speaking at the Europe Committee meeting on 20 September, he also touched on the challenges brought about by the war in Ukraine. He said inflation was rising before Russia’s invasion of Ukraine, but soaring energy prices exacerbated the rise, along with a tight labour market and other factors. However, the economic sentiment indicator (ESI) fell to 97.6 in August, as companies grapple with inflation, a strong US dollar, and the tail end of the pandemic. He said these are not unique to Europe, and remains confident that the Euro area will get through these challenges, with growth expected to be 2.6% for 2022. 

2022/09/20
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