Metal industry - Gloomy mood in the Hessian metal industry
The mood in Hesse's metal and electrical industry deteriorated significantly in the fall. More than a quarter (27 percent) of companies rated the situation as poor, the industry association Hessenmetall reported on its latest economic survey on Monday. In spring, the figure was only 9 percent. The proportion of companies with a good assessment of the situation fell by 11 points to 36 percent.
According to the head of the association, Wolf Matthias Mang, demand is declining for many companies in the export-oriented sector. Order backlogs from the times of disrupted supply chains have largely been processed and an increasing proportion of companies are reporting that their inventories are too low. For the next six months, 47% therefore expect demand to stagnate and a further 37% even expect a decline.
A total of 132 companies with around 36,000 employees took part in the survey. According to its own information, Hessenmetall represents more than 700 companies with around 130,000 employees.
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- Despite the gloomy mood in the Hessian metal and electrical industry, associations from both sectors, including Hessenmetall, continue to actively participate in industry events in Frankfurt on the Main.
- To address the challenges facing the metal industry, various associations have proposed initiatives to boost demand and promote innovation, such as collaborative research projects involving metal and electrical industry companies in Hesse.
- The Hessian metal industry, in partnership with related associations, has urged the government to invest in infrastructure projects that utilize metal materials, which can stimulate growth in the regional metal and electrical industry.
Source: www.stern.de
