Dwindling orders and little investment are dampening the mood in Saxony's skilled trades sector. Only around one in three companies (37 percent) rate their current business situation as good, according to the Saxon Crafts Association in Dresden. This is the result of an economic survey of around 1,300 companies in September. Last year, almost half of the companies surveyed in the fall were still positive.
"The skilled crafts sector is currently under pressure from several sides," said Uwe Nostitz, President of the Association of Skilled Crafts in Dresden. Private customers are cautious, while companies are burdened by high taxes and high costs. This is causing investment to remain at a low level. There is a lack of predictability and confidence.
Many companies across all trades do not expect their economic situation to improve in the foreseeable future, according to the survey. Almost half of them (44%) expect business to be even worse in the coming months - the last time expectations were this low was ten years ago.
