Lower production expected in food industry

More than 16% of entrepreneurs in the food industry reported at the beginning of December that they expected a drop in production in the next three months (December 2022 to February 2023), the highest number since July 2022. This is in line with the drop in production expected for the same period. personnel and purchase orders. Furthermore, almost half of entrepreneurs in the food industry expected in December that prices would continue to rise over the next three months, a much lower number than in the other months of 2022. The food industry already predicted a deterioration in the economic climate throughout 2022, with a peak of 28% more pessimists than optimists in October 2022. This is evident from an analysis of recent CBS data by our editors.

Less staff

In line with the expected drop in production, entrepreneurs in the food industry predicted on balance (optimists minus pessimists) a decrease in personnel at the beginning of December. A fall in employment was also forecast in October and November, after nine months of expected personnel growth. Incidentally, at the beginning of December, a large majority of 82% of employers in the food industry predicted that their workforce would remain constant over the next three months. Almost 10% expected a reduction in staff and over 8% an increase.

Price increases

Fewer and fewer entrepreneurs in the food industry think that selling prices will continue to rise. In December, almost half of entrepreneurs thought that prices would continue to rise over the next three months, much less than in all previous months of 2022. In October, no less than 70% of entrepreneurs expected price increases. Only 2.5% expected falling prices at the time. In December, the number of entrepreneurs expecting price falls to the highest number of 2022 increased by 3.3%.