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- Euro zone companies see productivity boost from pandemic - ECB survey
Euro zone companies see productivity boost from pandemic - ECB survey
Reuters reports that a European Central Bank survey showed that euro zone companies expect to emerge more efficient from the coronavirus pandemic thanks to greater use of digital technologies and remote working.
The ECB asked 72 industrial and services firms about the long-term impact of the pandemic on the way they operate and the environment around them.
It found firms expected home office, virtual meetings and greater digitalisation to remain part of their daily life even after the pandemic, along with reduced demand.
"To a large extent, this seems to reflect a view that some changes in living and working habits brought about by the pandemic, especially the increased conduct of business and consumption online and a consequent reduction in travel, will become embedded," the ECB wrote in an article accompanying the survey's results.
More than three-quarters of respondents in the ECB's survey said that their business would be more efficient and more resilient after the pandemic.
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