New survey

Industry: “Overall mood is not good”

An improvement in the industry's situation is not in sight.(Bild: EXPA Pictures. Alle Rechte vorbehalten. // EXPA Pictures. All rigths reserved.)

Companies show little optimism in the latest economic survey. A poor economic situation is expected, orders - especially abroad - have fallen significantly.

Domestic companies are currently not very optimistic about the future. This is according to the economic survey for the second quarter of 2024 conducted by the Federation of Austrian Industries (IV) and the Industry Division of the Burgenland Chamber of Commerce.

Fewer orders
One in four of the companies surveyed, most of which are doing well or averagely well, expect the economic situation to be "bad" in six months' time. The assessment of the current order backlog is similar, which is mostly considered to be "average". Foreign orders have fallen noticeably.

"Overall, the mood is not good, but also not significantly worse than it was in the previous quarter," summarizes IV-Burgenland Managing Director Aniko Benkö. A noticeable improvement in the situation is not in sight. Companies are expecting sales prices to fall. Attempts are being made to maintain the number of employees.

Reduce costs
Benkö is therefore calling for relief for companies: "As an export nation, we need competitive framework conditions." The tax and contribution ratio as well as non-wage labor costs need to be reduced and the "rampant bureaucracy" needs to be pushed back.