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The economy still has room to absorb the oil price slump, but a long-term period of low oil prices would hurt. Economic diversification is on the agenda.

A moderate economic rebound is expected in 2016 and 2017, given that the domestic security situation will not again hurt tourism and business sentiment.

As the oil price decrease has a negative impact on government revenues and lending conditions, many businesses face liquidity issues and payment delays.

The chemicals sectors in both Germany and France are scoring well and show robust performance. Still, some challenges lie ahead for both countries.

German non-food retailers struggle to cope with the fast growing market leaders, while the rebound for their Italian peers remains modest.

Payment delays remain a major issue in the British construction industry, while in Belgium the payment behaviour of the public sector remains bad.

Atradius identifies the most vulnerable countries and sectors in Europe to Brexit. The impact will be most acute in Ireland, Netherlands, and Belgium.

Despite a rebound in both the Italian and Spanish construction sectors payment duration is still long and insolvencies levels remain elevated.

In the UK chemicals sector there are high barriers to get into a successful team, while the industry shows a solid performance in Slovakia.

In both countries there are star players within the sector, while some segments are weaker, e.g. in German beverage subsector profit margins decrease.