34% of companies in Gipuzkoa foresee better growth prospects for 2023 and 50% stability

The Chamber of Commerce expects a “moderately optimistic” year, with employment and investment forecasts “mostly positive”. 34% of companies in Gipuzkoa foresee “better growth expectations for the rest of 2023” than in the first months of the year, while “50% foresee stability and 16% foresee a reduction in their activity”.

This is reflected in the investigation of the Chamber of Gipuzkoa on the economic situation in the first half of the year, prepared with surveys of about 400 companies in the area from four sectors (industry, construction, trade and services), presented by the General Secretary of the Chamber, Javier Zubia, and the Director of Marketing and Innovation, Iñigo Muguruza, at a press conference.

Muguruza pointed out that “industry and services confirm the global trend, construction has the best prospects and trade has a more balanced forecast: 26% of companies expect sales to increase in the rest of the year and 25% estimate a decline”.

Zubia and Muguruza have also stressed that stability in the country will be preserved employment opportunities, as stated by 74% of the companies surveyed; while 19% plan to increase the workforce this year and 7% to reduce the workforce.

Referring to investmentinvestment trend remains “positive” in Guipuzkoa, albeit with more moderation than at the beginning of the year”. do have increased their investments at the beginning of the year, while “the number of companies planning to reduce them is barely growing, going from 9 to 10%”.

About the most important to assure of companies, he mentioned profit margin (the most worrying factor for 65% of companies surveyed); followed by labor costs (61%) and weak demand (41%). “Industry’s concern about the cost of energy and raw materials is notable, 47%, and construction’s concern about the lack of qualified personnel, 67%,” he added.