The energy crisis is a major concern for large domestic companies, with more than 60 percent expecting lower yields in the autumn. But there is also a bright spot.
The assessment of the current business situation in the industrial companies in Lower Austria turned slightly positive towards the middle of the year, but looking to the near future, there is pessimism. This is shown by the economic barometer of the Federation of Austrian Industries (IV), which shows the impressions of 45 leading companies with a total of 31,361 employees. 35 percent of companies assume that the business situation will generally deteriorate in the next six months. Six in ten of the managers surveyed see profits fall, only a meager seven percent have hopes of an increase.
Gloomy outlook for energy sector
“The gloomy outlook is mainly due to the unpredictable situation in the energy sector,” explains Thomas Salzer, IV president in Lower Austria. This hinders growth efforts. Only eleven percent of companies expect an increase in the number of employees this year, while three percent expect job losses.
Full order books
A ray of hope is that the vast majority of companies (88%) have full order books. However, whether the orders can be processed depends on uncertain gas and raw material supplies.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
