Changes in Costs in the Wake of the Eurozone Crisis: Survey Snapshot by Timetric

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									     Changes in Costs in the Wake of the Eurozone
     Crisis: Survey Snapshot


     Reference code: MS1012SS

     Published: October 2012




     Timetric and VRL
     John Carpenter House
     7 Carmelite Street
     London EC4Y 0BS
     United Kingdom
     Tel: +44 (0)20 7936 6400
     Fax: +44 (0)20 7336 6813
     Website: www.timetric.com, www.vrl-financial-news.com




© Timetric and VRL. This report is a licensed product and is not to be photocopied
 TABLE OF CONTENTS


TABLE OF CONTENTS

1      Introduction ..................................................................................................................5
    1.1 What is this Report About? .................................................................................................... 5
    1.2 Definitions .............................................................................................................................. 5
    1.3 Methodology .......................................................................................................................... 5
    1.4 Profile of Survey Respondents ............................................................................................... 7
2      Changes in Costs .........................................................................................................8
    2.1 Changes in Costs – Manufacturing Sector ............................................................................. 8
    2.2 Changes in Costs – Service Sector...................................................................................... 10
3      Appendix ..................................................................................................................... 12
    3.1 Full Survey Results .............................................................................................................. 12
    3.2 Methodology ........................................................................................................................ 19
    3.3 Contact Us ........................................................................................................................... 19
    3.4 About Timetric...................................................................................................................... 19
    3.5 About VRL Financial News .................................................................................................. 20
    3.6 Disclaimer ............................................................................................................................ 20




Changes in Costs in the Wake of the Eurozone Crisis: Survey Snapshot                                                                         Page 2

© Timetric and VRL. This product is licensed and is not to be photocopied                                                 Published: October 2012
 TABLE OF CONTENTS


LIST OF FIGURES
Figure 1: Changes in Costs in the Manufacturing Sector in Europe (%), 2011–2012 vs 2012–2013.......................................................... 9
Figure 2: Changes in Costs in the Service Sector in Europe (%), 2011–2012 vs 2012–2013 ...................................................................11




Changes in Costs in the Wake of the Eurozone Crisis: Survey Snapshot                                                                                 Page 3

© Timetric and VRL. This product is licensed and is not to be photocopied                                                        Published: October 2012
  TABLE OF CONTENTS


LIST OF TABLES
Table 1: Eurozone Crisis Survey Respondents by Company Type, 2012 .................................................................................................. 7
Table 2: European Respondents by Job Role (%), 2012 ........................................................................................................................... 7
Table 3: European Respondents by Company Turnover (%), 2012 .......................................................................................................... 7
Table 4: Changes in Costs in the Manufacturing Sector in Europe (%), 2011–2012 vs 2012–2013 ........................................................... 9
Table 5: Changes in Costs in the Service Sector in Europe (%), 2011–2012 vs 2012–2013 ....................................................................10
Table 6: Full Survey Results – Closed Questions ....................................................................................................................................12




Changes in Costs in the Wake of the Eurozone Crisis: Survey Snapshot                                                                                                          Page 4

© Timetric and VRL. This product is licensed and is not to be photocopied                                                                             Published: October 2012
 INTRODUCTION



1 Introduction

1.1 What is this Report About?


       This reports aims to identify the cost components that have been impacted in the past 12 months, to
       what extent they have been affected, and how each cost is expected to behave over the next 12
       months. Respondents were asked: “What changes have you experienced in the following costs in the
       past 12 months, and what changes do you expect in the next 12 months?”



1.2 Definitions

            Manufacturing sector: All companies which use machines and tools to convert raw materials in to
            finished goods on a large scale for the purpose of sale are considered in this sector.

            Service sector: All companies that provide services to individuals, organizations and governments
            are referred as belonging to the service sector. Activities in the service sector include retail,
            banking, hotels, real estate, education, health, social work, transport, computer services, recreation,
            media, communications, electricity, gas and water supply.

            Eurozone crisis: An ongoing financial crisis that has made it difficult or impossible for some
            countries in the euro area to refinance their government debt without the assistance of third parties.

            Exchange rate: An exchange rate between two currencies is the rate at which one currency will be
            exchanged for another.

            European Commission: The European Commission (EC) represents the general interest of the
            European Union (EU) and is the driving force in proposing legislation (to Parliament and the
            Council), administering and implementing EU policies, enforcing EU law (jointly with the Court of
            Justice) and negotiating in the international arena.

            Company turnover: companies with turnover of less than US$100 million are identified in the
            report as small companies. Companies with turnover of between US$100 million–US$1 billion are
            referred to as medium-sized companies, and companies with turnover of more than US$1 billion as
            large companies.

1.3 Methodology

        All Timetric and VRL reports are rigorously sourced and created according to a comprehensive three-
        stage methodology:

        1) Online survey

        The research source in this report is based on the surveyed opinions and expectations of highly
        engaged and senior industry professionals. Timetric and VRL conducted an extensive online survey in




Changes in Costs in the Wake of the Eurozone Crisis: Survey Snapshot                                          Page 5

© Timetric and VRL. This product is licensed and is not to be photocopied                     Published: October 2012
 INTRODUCTION


        July 2012, which was taken by 175 senior global industry buyers and suppliers. These respondents
        cover C-level executives, directors, managers and technical and professional staff.

        The survey’s respondents were drawn from the Timetric and VRL Industry Insight Panel, an exclusive
        industry panel covering over 2 million business professionals worldwide. Respondents represent a
        dedicated professional community where participants are surveyed ‘in context’, drawn from our industry
        magazine and media communities, including the readership of Finance Director Europe, Future
        Banking, Banking Business Review as well as delegate relationships across Timetric and VRL’s global
        industry conference and forum events. These business communities are made up of highly engaged,
        qualified professionals who rely on Timetric and VRL’s flagship media brands in their respective
        markets, enabling Timetric and VRL to access knowledgeable and informed industry opinions.

        2) Secondary research

        A collection of the latest market-specific data from a wide variety of respected third-party industry
        sources:

               Government statistics
               Industry associations
               Company filings
               Broker reports
               International organizations
               Industry news websites
               Industry reports

        3) Data analysis and report writing

        The results of this research have been analyzed and evaluated by Timetric and VRL’s in-house
        industry-specific analysts. Our analysts’ research and analysis expertise, history in marketing, market
        research, consulting background in their industry, and ongoing education on leading macroeconomic
        and industry news have shaped their analytical judgments and conclusions of the industry opinions
        gathered.

        4) Quality control

        A) Templates

               Detailed process manuals
               Standardized report templates and accompanying style guides
               Advanced data analysis and survey programming tools
               QC checklists

        B) QC process

               Randomized spot checks on data integrity
               Peer review
               Senior-level QC




Changes in Costs in the Wake of the Eurozone Crisis: Survey Snapshot                                          Page 6

© Timetric and VRL. This product is licensed and is not to be photocopied                     Published: October 2012
 INTRODUCTION



1.4 Profile of Survey Respondents

        Our in-depth industry survey was completed by 175 respondents, employed by the organizations shown
        in the table below:
       Table 1: Eurozone Crisis Survey Respondents by Company Type, 2012

         Company Type                                                                  Number of Respondents

         Manufacturing sector                                                                               79

         Service sector                                                                                     96

         Overall                                                                                           175

       Source: Timetric and VRL Industry Survey 2012                                          © Timetric and VRL


        Respondents in the manufacturing sectors included employees operating in agriculture and forestry,
        automotive, computer hardware, construction and interior design, defense, metals, mining, packaging,
        telecommunications, consumer goods, electronics and other manufacturing industries, while
        respondents from the service sector included employees operating in arts, entertainment and
        recreation, business and consumer services, banking, education, financial services, healthcare,
        hospitality, insurance, media, retail and whole sale industries.

        Of all respondents, 31% belong to organizations with a turnover of more than US$1 billion and 51% of
        all respondents are C-level or director level executives, while the remaining 49% are managers and
        professionals with technical backgrounds.


       Table 2: European Respondents by Job Role (%), 2012

         Role                                                                       Percentage of Respondents

         CEO / President / MD / Board member / C-level executive                                          28%

         Director / VP / SVP                                                                              23%

         Head of business unit                                                                              7%

         Head of department                                                                     
								
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