In 2024, the business climate indicator (ICA) increased for three consecutive quarters before stabilising at its long-term average level at year-end.
On an annual average basis, the ICA stood at 98.7 points, representing an increase of 4.4 points compared with 2023.
On an annual average basis, inflation stood at 3.0% in 2024, a level similar to that of the previous year. While price growth therefore remained above the 2% threshold set by the ECB, it did not accelerate year-on-year. Inflation was driven mainly by energy prices (+7.2%) and food prices (+4.9%). Service prices contributed more moderately (+2.8%), while prices of manufactured goods showed little change (+0.7%).