For the first time since summer 2023, the nominal sales of German small and medium-sized enterprises have shown a slight increase at the beginning of the new year.
According to the Datev Mittelstandsindex, published by the “Frankfurter Allgemeine Zeitung”, the nominal sales of the small and medium-sized enterprises in January were 1.3% higher than a year earlier. However, the sales growth does not indicate a trend reversal, as the downward trend has merely come to a standstill.
The sales increase was observed across all industries, except for the manufacturing sector. “With sales declines and job cuts, the manufacturing sector remains a concern” commented Robert Meyer, chairman of the Datev board.
Wages in the small and medium-sized enterprises rose by 4.7% in January compared to the same month a year earlier, exceeding the general inflation rate. The employment in the small and medium-sized enterprises decreased by 0.1% in January, the first decline in many months. For the first time in a long time, the small and medium-sized enterprises in the manufacturing sector also reported job losses in January.
The Datev Mittelstandsindex is based on the sales tax declarations of more than a million companies and the payroll and salary records processed by Datev for its tax consultant clients.