VOSZ Barometer: the decrease in purchasing power shocked SMEs in 2023

By: Trademagazin Date: 2024. 01. 24. 12:12

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According to the data of the 2023 fourth quarter survey completed on behalf of the National Association of Entrepreneurs and Employers (VOSZ), the business mood continued to deteriorate, this time again by the Equilibrium Institute, which VOSZ started measuring a year ago the economic mood of its member companies.

According to the fourth quarter data, the VOSZ Barometer Index has already dropped to 50% from 61% at the beginning of the year. At the press conference presenting the latest research, it was also said that the main problems and difficulties for the VOSZ member companies were decreasing purchasing power, inflation, and, as a new element, the deterioration of payment morale.

At the press conference presenting the results of the research, the Equilibrium Institute also announced that after the 17.6% inflation in 2023, according to their calculations, inflation can be expected to be 5.7% this year. Last year, a GDP decline of 0.6% was measured, while in 2024 growth is expected to be +3.2%.