Managers of branded manufacturers have negative expectations

Managers of branded manufacturers in Slovakia view the past year as relatively positive, but for the first time in eight years their sentiment was worse than in other European countries, according to a survey by branded‑products association SZZV. Its members employ 8,000 people and generate €3bn in annual sales. New and higher taxes have increased cross‑border shopping and boosted the black market. For the first time in eight years, the outlook for the new year is negative: 25% of managers have negative expectations, 19% positive, and 56% neutral. Some 13% expect a decline in employment and 6% an increase; 19% expect to cut advertising spending and 13% to increase it.

(openiazoch.sk)