Recently, the Industrial Union released results from a survey of 1,200 industries that showed a significant decline in activity and low expectations for the remainder of 2024. Despite 62% of respondents believing that things will improve within a year, the overall outlook appears bleak. The survey’s indicators suggest a contraction in activity across various aspects such as production, employment, delivery times, and input stock levels.
The survey revealed that many companies had experienced decreases in production (53%), sales (60%), exports (37%), and employment (24%). These declines were observed across all business segments, with small and medium-sized enterprises (SMEs) being particularly impacted. As a result, staff reductions, suspensions, and reduced shifts have led to increased financial difficulties for many companies.
Concerns were also raised about rising costs and declining demand from other sectors and households. Many companies reported struggling to meet their financial obligations, with 12% facing challenges in meeting all payments, particularly in the tax area. Despite these challenges, there is a slight improvement in expectations for the future as a majority of companies anticipate an improvement in their economic situation within the next year.
Despite the current challenges faced by individual companies and the sector as a whole, there is a sense of cautious optimism for the future. Many companies are hopeful for a turnaround in their economic situation within the coming year as they continue to navigate through these challenging times.
