Our Economic Barometer provides a quarterly current overview of economic expectations within various sectors. This barometer contains multiple indicators, such as turnover growth, order portfolio, promising areas and potential threats. The third quarter of 2023 (Q3) does not look particularly positive. The negative trend of the past quarters continues.
Industrial electronics
There has been a trend in the industrial electronics sector for some time now. Many companies are dealing with a deteriorating order position compared to the same quarter last year. The percentage of companies that reported this in Q1 was 40%. In Q2, this rose to 55%, and we are now talking about 60%. But the expectations for the order position in the current fourth quarter are also more pessimistic. This trend can also be seen in the total turnover forecast.
Causes that are mentioned for this negative trend are for example the recession in the manufacturing sector and competition from China. But there are also opportunities. For example in the field of defense and international sales.
Industrial Automation
In this sector too, the order position deteriorated compared to the same quarter last year. In Q1 we still spoke of a percentage of 17%, now we are talking about more than 40%. When asked 'what do you expect from your order position this quarter compared to the same quarter last year?' in Q2, 28% of the companies still answered negatively. In this quarter, that percentage rose to 42%. Turnover also fell and no improvement is expected.
Companies indicate that this is due to the many unrests currently taking place in the world, for example in the geopolitical field. It causes investments to be postponed.
Laboratory technology
In this sector, the order position is more positive this quarter compared to last year. In Q2, a small majority of 54% companies indicated that it had deteriorated, while in Q3 this was 36%. In Q2, most companies still expected their order position to improve, in Q3 the largest group (approximately 42%) of respondents indicated that the order position would deteriorate.
Expected order position, turnover, expected turnover; the number of companies expecting a deterioration is increasing significantly in all areas. The reason? Here too, recession and a brake on investments. Opportunities lie in the future in the field of AI, sustainability and innovation.
Building automation
As in the previous quarter, we are unable to report the results of the building automation sector due to limited response.
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