PKS survey: Most companies expect higher turnover in Q2

According to the survey conducted by the Serbian Chamber of Commerce (PKS) in April on a sample of 1,672 companies employing over 235,000 workers, the Serbian economy recorded stable business performance in the first quarter of 2024.

In the coming period, the Serbian economy is going to experience a stable business climate, i.e. it expects to see growth in turnover and exports with good liquidity and employment, according to the Survey.

The National Bank of Serbia (NBS) data show that inflation slowed down to 5.6 percent year-on-year in February and will return to a targeted percentage in mid-2024. Economic experts estimate that the process of reducing interest rates in the world’s leading economies will begin in the second half of the year, so a similar trend should be expected in Serbia as of June.  

Also, 52 percent of respondents expect an increase in turnover in the second quarter. The tourism sector showed the greatest optimism, where as many as 65 percent of respondents expect higher tourist traffic, followed by the construction, energy, wood industry and retail sectors also expect a significant increase in turnover. On the other hand, 16 percent of respondents from the electronic communications industry expect a decrease in turnover in the second quarter of 2024, according to PKS.

More than half of the respondents believe that they will the business climate will not change in the second quarter of 2024, 40 percent of them think it will improve, while 5 percent think it will worsen.

The surveyed companies achieved an average capacity utilization of 72 percent in Q1 of 2024. Resources remain a key prerequisite for business development and greater capacity utilization, bearing in mind that 56 percent of respondents indicated lower resource costs as a key factor in more efficient operations.

“In terms of export, companies have expressed significant optimism for the second quarter of the year – 45 percent expect growth in inter-quarterly exports and 47 percent expect the same results as in the previous quarter. As many as 93 percent of the surveyed importers expect the same or an increased volume of imports in the second quarter of 2024 compared to the previous quarter”, PKS points out.

(Politika, 27.05.2024)

This post is also available in: Italiano

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