It's a bitter image. Businesses and consumers are suffering from high energy prices and inflation. According to experts, the consequences are dramatic. They don't see any rays of hope yet.
Halle (dpa/sa) - According to a survey, the mood in the economy in southern Saxony-Anhalt has deteriorated dramatically. The energy price and raw materials crisis hit hard. The economy collapsed across the board in the south of the country. "We've never had anything like what we're seeing now, because negative news is coming from all sectors," said Thomas Brockmeier, General Manager of the Halle-Dessau Chamber of Commerce and Industry (IHK), on Wednesday. There is no improvement in sight.
The current situation for companies cannot be compared to the Corona crisis either, he said. Around 85 percent of the companies surveyed in the south of the country fear that the high energy and raw material prices will result in a drop in sales and profits. In 2020, things went well at least in parts of the economy, such as in the construction industry, said Brockmeier. This is no longer the case.
According to the current IHK economic survey for the third quarter of 2022, the business climate index, which is made up of assessments of the situation and prospects of companies, fell to -18.7 points. That is a low since 2003. "It is particularly alarming that companies want to invest less and are reducing their personnel planning, especially in industry," said economic expert Danny Bieräugel. In addition, there are production restrictions due to the high cost burden on companies, for example in the production of basic chemical materials.
"It is very difficult to say when you will recover. At the moment, many companies are trying to ensure their survival," said Brockmeier. In order to get out of the crisis, it is urgently necessary to lower the high energy prices. "For this we have to bring all the energy we have to the market," said the IHK general manager. He again spoke out in favor of extending the lifespan of nuclear power plants and using coal and gas. At the same time, Brockmeier called for better framework conditions to enable a massive expansion of renewable energy. For its survey, the Chamber of Industry and Commerce questioned 600 companies in southern Saxony-Anhalt.
