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Financial experts see cautious expectations from Thuringian companies for 2024 - crises remain the new normal and economic growth is weak.
According to a report from www.sueddeutsche.de, a survey by the Thuringian Business Association (VWT) showed that Thuringian companies' expectations of economic development in 2024 are cautious. 40 percent of companies expect the economic development to be worse than in 2023, a third expect no change and almost 16 percent were unable to provide a forecast. Growth forecasts for eastern Germany are also subdued, with economic growth expected to be under one percent this year. The pessimistic mood of companies in Thuringia reflects that the economy is still in crisis mode, which is due to the ongoing economic risks and uncertainties. …
Financial experts see cautious expectations from Thuringian companies for 2024 - crises remain the new normal and economic growth is weak.
According to a report by www.sueddeutsche.de, a survey by the Thuringian Business Association (VWT) showed that Thuringian companies' expectations of economic development in 2024 are cautious. 40 percent of companies expect the economic development to be worse than in 2023, a third expect no change and almost 16 percent were unable to provide a forecast. Growth forecasts for eastern Germany are also subdued, with economic growth expected to be under one percent this year.
The pessimistic mood of companies in Thuringia reflects that the economy is still in crisis mode, which is due to the ongoing economic risks and uncertainties. The resulting impact could lead to weak economic growth and the end of the “golden age in the labor market”, although there is still a need for young professionals and trained specialists.
The companies also expressed criticism of the state government's economic policy and rated Thuringia as a business location overall as good, but with room for improvement. Education policy and location marketing in particular were seen as needing improvement. This could lead to further challenges for companies, particularly with regard to filling open training positions and future skilled workers needs.
In addition, the association's leadership expressed concern about the right-wing tendencies in Thuringia and emphasized that the AfD was not a solution. These political uncertainties could have a negative impact on the stability and growth of the Thuringian economy, especially in terms of attracting foreign workers and potential investors. It is therefore important that political decision-makers and economic actors take joint measures to strengthen Thuringia as a business location in order to improve the economic prospects in the region.
Read the source article at www.sueddeutsche.de