30 November 2023

Ceemet comments on the Annual Sustainable Growth Survey (ASGS)

On 21 November 2023, the European Commission published the European Semester Autumn Package for 2024. Among the documents which make up the Autumn Package is the Annual Sustainable Growth Survey (ASGS).

This year’s edition of the ASGS highlights the slowing EU economy in the face of high inflation and tighter financing conditions. As has been borne out in recent Ceemet employment figures, the EU labour market remains resilient. However, this is a double-edged sword, with one of MET employer’s top concerns being a lack of access to labour and skilled workers.

Ceemet welcomes the fact that competitiveness features strongly in this year’s ASGS and the focus on dealing with the structural challenges the EU is facing is appreciated by MET employers. However, in the upcoming months, we must see words translated into concrete actions by the Commission.

The financial firepower of the Commission to face the current state of the EU economy is on full display in this year’s ASGS. Having said that, it will take more than funding opportunities to regain the lost competitiveness which MET companies have experienced due to years of misplaced regulation and burdensome reporting obligations.

Broadly, the 2024 ASGS is to be welcomed. It sets the right tone on some of the key issues for industry but it is now time to step up to the plate and really deliver for the companies which make up the industrial backbone of our European continent.