Munich (dpa / lby) – Price explosions and disrupted supply chains are slowing down the Bavarian economy. According to an economic survey by the Bavarian Chamber of Industry and Commerce (BIHK), many companies are “still largely satisfied” with their current business situation. But the business expectations in industry and construction are gloomy, the full order books are also a sign of an order backlog: “In view of price increases and delivery problems with raw materials and materials, companies often do not know when they can fulfill the orders and whether the business will still be in the end expected,” said BIHK General Manager Manfred Gößl on Thursday in Munich.
The BIHK economic index fell from 124 to 112 points compared to the beginning of the year and is thus just below its long-term average. The construction trade, industry, trade and the service sector “are skeptical about the coming months. Only tourism is expecting a good summer season,” said Gößl.
Price shocks for energy, raw materials and preliminary products as well as delivery problems unsettled companies. Other disruptive factors are the rigid corona policy in China, Bavaria’s remarkable procurement market, and the critical economic situation in the USA, Bavaria’s remarkable export market.
75 percent of companies report energy and raw material prices as the greatest risk for the next twelve months. The shortage of skilled workers remains a major concern for 61 percent of all companies. The uncertainty is causing noticeable reluctance to invest. The employment plans, on the other hand, have only been slightly corrected: “The job creation will continue, albeit with weaker momentum,” said the BIHK. He had surveyed 3500 companies.
BIHK President Klaus Josef Lutz warned that the security of supply and the competitiveness of the Bavarian economy must have absolute priority. The expansion of renewable energies must be drastic, but must not trigger further energy price hikes at an accelerated pace, “if we want to keep Bavaria as an industrial location”. Politicians should help companies diversify their procurement markets through new free trade agreements with Latin America, India, Australia and New Zealand.
© dpa-infocom, dpa:220519-99-349996/2