In contrast, only 4.8% foresee losses, according to the current situation report of the Vizcaya Federation of Metal Companies, which concludes that 1,000 new jobs will be created, compared to the 1,400 jobs generated in 2023.
82.6% of companies in the Bizkaia Metal sector expect to end 2024 with a profit and only 4.8% expect losses for 2024. Looking ahead to this year, the sector’s expectations are “the best” since 2020 and only 31 % expect an activity level below 75%. of capacity, up from 38% in 2023. Employment plans to create a thousand new jobs, up from the 1,400 generated last year.
These estimates are part of the report on the economic situation, which was prepared with data from the end of 2023 and an outlook on forecasts for 2024. The study was prepared on the basis of the answers obtained from a survey involving 209 companies, representing more than Employing 13,000 workers, out of 850 affiliated with the Biscayan Federation of Metal Companies, FVEM, which together employ 53,000 people in Bizkaia.
According to the study, Biscayan companies are currently using 78% of their production capacity. Data highlighted, although positive, by the President of FVME, Begoña San Miguel, has been “reduced” to 28.5% at the end of 2023, reflecting the cessation of the positive trend that occurred in the second half of the year last year , but that does not prevent 2024 from being presented with “good expectations”.
The FVEM indicator of expected activity for 2024 amounts to 78.9%, “the best in the range”, the President emphasizes. In terms of markets, this year’s outlook also anticipates “improvement”, with companies feeling a “reactivation” increasing by as much as 38%.
Source: EITB
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.
