IHK deplores deindustrialization - change of course required

In view of poor economic data, companies in south-west Saxony are increasingly cutting jobs and cutting back on investments. "The regional economy remains on a downward spiral", warn the Chemnitz Chamber of Crafts and the Chamber of Industry and Commerce (IHK) based on their latest economic surveys. IHK Managing Director Christoph Neuberg speaks of a clear trend towards deindustrialization. It can increasingly be observed that industry is saying goodbye because it can no longer produce competitively in this country.

Warning of a further increase in the minimum wage

Collapsing orders, consumer restraint and cost increases have led to a further deterioration in the expectations of many companies, it is said. The biggest risks are labor costs as well as energy and fuel prices. In view of the current economic situation, the chambers are concerned about a further increase in the minimum wage. This would lead to significant wage increases across the board - and therefore a further increase in costs for companies, they warn.

The chambers are calling on politicians to take decisive countermeasures in the current malaise and to focus clearly on the economy. This includes easing the burden on energy and taxes, reducing non-wage labour costs, cutting red tape and consistently digitalizing administration in order to speed up decisions for companies.