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Buoyant business mood continues in metropolitan region

Favourable climate for economy and investments, entrepreneurs say in latest survey - boom in skilled trades highlights shortage of skilled workers

Some 41 per cent of over 2,000 companies surveyed in the Hamburg Metropolitan Region rate their present business situation as “good”, 50.3 per cent as “satisfactory” and only 8.6 per cent as “bad”, according to the latest survey published Tuesday (June 12, 2018). The business climate is best assessed in Mecklenburg-Western Pomerania. Company-related service providers and the booming building sector expressed above-average satisfaction. In terms of human resources, 20.9 per cent of companies plan to hire employees while 10.4 per cent expect a reduction. Export outlooks remain almost unchanged.

Companies’ investment plans rising

Some 32.2 per cent of companies are planning additional investments in Germany and more than half of companies wish to continue investing. Business expectations for the next twelve months are also optimistic with 22.4 per cent expecting “more favourable” business developments compared to 18.7 per cent last autumn. Business development is expected to remain almost unchanged at 15.3 per cent.

Economic boom in skilled trades

The boom in skilled trades continues with 92 per cent of companies rating their current business situation as “good” or “satisfactory” and expressing optimism about the future. The business climate in the craft sector of the Lower Saxony part of the Hamburg Metropolitan Region fared particularly well. Eckhard Sudmeyer, Managing Director of the Braunschweig-Lüneburg-Stade Chamber of Crafts, said: “We are experiencing an absolute boom in trades. The business situation is excellent; the companies are working at full capacity. Many would like to hire additional staff. But it’s getting harder and harder to find skilled workers.”

Sources and further information:

Economic Climate in Hamburg Metropolitan Region

The Chamber of Industry and Commerce and the Chamber of Crafts in the Hamburg Metropolitan Region consult their member companies twice annually about their current business situation. They also ask for an assessment of the coming months to deduce the business climate. A total of 1,326 companies in the commercial sector and 749 craft businesses have been interviewed for the latest survey.

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