Foto: HK/Shutterstock
According to the WIFO Economic Barometer Summer 2024, the business climate in the services sector is very good, but subdued in freight transport.
The summer survey of the economic barometer by the WIFO Institute for Economic Research of the Bolzano Chamber of Commerce shows a very good business climate in the service sector.
In the transport sector, however, the mood varies from sector to sector: optimism prevails particularly among operators of lifts and passenger transport, while the outlook for freight transport is more modest, as companies expect a decline in sales this year and market conditions remain difficult.
The business climate in Services sector is still very positive, so that almost all companies expect at least satisfactory and often good profitability this year.
Sales growth is being recorded on the South Tyrolean, Italian and foreign markets, but this is still being driven by the larger companies. Optimism prevails particularly in the area of Business Servicesbut also in the sectors of freelance, technical and scientific servicesthe Information technology and telecommunications and in Credit and insurance the earnings situation is assessed very positively.
Source: Chamber of Commerce
However, credit institutions are reporting a further decline in lending and a slight deterioration in the creditworthiness of their customers, which is also due to the high interest rates. The situation in this regard is expected to improve. After the European Central Bank cut interest rates for the first time in June, further cuts could be on the horizon in the autumn.
The companies of the Real estatethe personal services and the Publishing and communications division report a stagnation in demand and sales, although the earnings situation in these sectors will still be satisfactory in most cases.
Im Passenger transport almost all companies are satisfied with their earnings situation and an increase in sales, investments and employment is expected. Freight transport The assessments of the earnings situation and sales development in the current year are more modest. The freight forwarders complain of a general deterioration in the general conditions, so that a fifth of them expect an unsatisfactory operating result.
The President of the Bolzano Chamber of Commerce, Michl Ebner, stresses the importance of further investments in digitalization: “The spread of new technologies, such as artificial intelligence, is changing activities in many service sectors. It is important that companies approach these technologies with confidence and openness in order to exploit their potential and thus become even more competitive.”
Below are the statements from the business associations:
Juri Galvan, President CNA-SHV FITA South Tyrol
“Freight transport is suffering from inadequate Italian road infrastructure, untenable Tyrolean driving bans and transit problems on all Alpine passes. The congested traffic makes it impossible to calculate travel times. All this, together with staff shortages and high diesel prices, is causing difficulties for most small and medium-sized transport companies. The situation is very worrying.”
Philipp Moser, President of the HDS Business Association
“Service providers are the driving force of South Tyrol’s economy. Local business service providers play a decisive role in shaping South Tyrol’s location development. It is therefore necessary to involve local service providers more closely in economic development projects. The aim is to strengthen service capacities in the territory and increase the competitiveness of companies.”
Alexander Öhler, chairman of the goods transporters in the lvh
“The renovation of the Lueg Bridge in Tyrol and the closure of the Reschenstrasse in Vinschgau will further increase the challenge for the goods transport sector. These measures must be planned in cooperation with all the countries affected. Work must not be carried out at the expense of economic efficiency. Our principle must be: work with one another and not against one another.”
Peter Werth, President of the ICT section of the Entrepreneurs’ Association
“The situation for our sector is currently positive, as there is great interest in strengthening digitalization in companies. The support provided in this regard certainly provides an important incentive. We companies must use this positive time to prepare ourselves for the challenges ahead.”
Photo(s): © 123RF.com and/or/with © Archive Die Neue Südtiroler Tageszeitung GmbH (if no reference is made)
