DIHK Economic Survey Fall 2023
The business sentiment is clouding over. The effects of the COVID-19 pandemic and the war in Ukraine continue to burden businesses, particularly with persistently high prices and increased interest rates. Additionally, structural challenges such as a shortage of skilled workers, the transition to renewable energy, and excessive bureaucracy contribute to increased costs in inputs, energy, labor, and financing. Simultaneously, there are no positive impulses from foreign trade at the moment, as global economic conditions are sluggish. Moreover, geopolitical uncertainties are on the rise.
Review results
DIHK Economic Survey Fall 2023
- Companies assess their current business situation slightly positively across all sectors: 30 percent (previously 34 percent) rate the current business as "good."
- However, the proportion of businesses that rate their situation as "poor" has increased noticeably, from 15 percent to 21 percent.
- Business expectations are significantly deteriorating. Over a third of companies (35 percent, up from 23 percent) have negative business expectations for the next twelve months.
- One in eight (13 percent, down from 18 percent) anticipates better business.
- Risks and uncertainties are increasing and becoming more diverse.
- More than half mention energy and raw material prices as the biggest business risks (currently 61 percent, down from 65 percent in early summer), a shortage of skilled workers (58 percent, down from 62 percent),
