Economic barometer Q3 2022: high inflation and expensive energy make it difficult for companies

A growing number of companies indicate in the third quarter that they have or expect problems as a result of the war in Ukraine. This is particularly the case in the Laboratory Technology and Medical Technology sectors. High inflation is also leaving its mark.

These concerns have become apparent over the past three quarters: almost every company is concerned or is affected by the sharply increased energy and purchase prices. It is favorable that Q3 shows that there are fewer problems in the supply chain. Most companies also remain quite positive about their order portfolio and expectations. Looking at the future opportunities, the energy transition and the increasing role of service and maintenance are particularly important.

In order to retain employees, many entrepreneurs offer additional or improved secondary employment conditions. In particular, education & study, flexible travel expenses and career opportunities score high. A number of sectors are also prepared to pay higher salaries.

At the Medical Technology sector members unanimously signaled high purchasing costs as an urgent problem in Q3. Energy prices also worried them. Just over a quarter of respondents saw their order position deteriorate, slightly more than in Q2. Nevertheless, more than 80 percent indicated that turnover in Q3 was better than the same quarter a year earlier.

Within the Laboratory Technology sector is also increasing unrest about the consequences of the war: more than 75 percent expect problems. Rising energy and purchase prices are again playing a role. It is also striking that almost half of the respondents estimate the turnover of Q3 2022 to be lower than the same quarter in 2021. The members surveyed also indicate that service & maintenance in particular is important for the future, but that inflation can throw a spanner in the works.

Companies active in the Industrial Electronics sector are still struggling with a faltering supply chain: more than 60 percent are affected by this. Around 40 percent also expect a decreasing number of orders and a decreasing turnover. This picture is also reflected in decreasing order positions. Nevertheless, 80 percent booked a better turnover than a year ago. Looking to the future, more and more companies see opportunities to play a role in the energy transition.

In the Industrial Automation sector there is also a lot of trouble from the high energy prices, but also the expensive dollar. The problem of faltering supplies seems to decrease somewhat and about 45 percent that the turnover in Q3 will be higher than in 2021. As future opportunities, the respondents mainly mention the energy transition and the Internet of Things.