The latest Industry Barometer from the European Federation of Engineering Consultancy Associations (EFCA) shows that disruptions generated by the COVID-19 shock in Europe waned. However, the Russian invasion in Ukraine poses new challenges and uncertainties for the European consultancy and engineering companies.
The largest challenge currently for the consultancy and engineering industry in Europe is the shortage of staff. But the impact from the war in Ukraine, continued COVID-19 lockdowns in China, rising inflation and interest rates are all factors contributing to heightened uncertainty as to the market developments in the future.
The full report is available here.