Saxon companies continue to be predominantly pessimistic about the economy. This is the result of a joint survey by the Saxon chambers of industry and commerce at the beginning of the year, which was presented in Dresden. According to the survey, almost one in four of the companies surveyed expect to cut jobs (24 percent). Twelve percent of companies intend to create additional jobs.
"Apart from the coronavirus-related slump in spring 2020, this is the worst figure since the economic and financial crisis in 2009," said Fabian Magerl, Managing Director of the Leipzig Chamber of Industry and Commerce. "The Saxon economy remains in weak mode. Stimulus is urgently needed." According to the figures, the IHK business climate index remains at a low level and has risen by 2 points compared to the previous year to 99 points.
According to the IHK leaders, the automotive sector, mechanical engineering and the chemical industry in Saxony are particularly affected by the current crisis mood. The hope for the "autumn of reforms" announced by the federal government has now largely given way to disappointment for most companies. The CCIs are calling for lower labor costs, less bureaucracy and simpler application and award procedures as well as more investment incentives for the economy.
