Halle (dpa/sa) - In view of the looming recession in Germany, the mood among medium-sized companies in Saxony-Anhalt has deteriorated drastically. The expectations for the future are predominantly pessimistic, said the credit agency Creditreform on Thursday. According to a current survey by financial experts, only 29 percent of medium-sized companies in the state expect good or very good business development in the coming months. In autumn 2021, 55 percent of the companies surveyed still thought so.
Expectations are more pessimistic than they have been since the 2009 financial crisis, said Martin Plath, authorized signatory at Creditreform in Halle. The business climate index for medium-sized companies in Saxony-Anhalt is 28 points. That is the lowest level in more than ten years. In autumn 2021, the value was still 53 points and recovered somewhat after the corona crisis. The business climate index is considered an important indicator of the economy.
Medium-sized companies are currently suffering from sharply rising energy costs. Financing conditions also deteriorated. The financial expert expects the number of insolvencies and company closures to increase in the coming months. For the first time in many years, staff reductions are planned in medium-sized companies in Saxony-Anhalt. According to the information, only seven percent of the companies surveyed are planning to increase the number of employees. In 2021 it was still 21 percent.
