Economic Indicator Shows Modest Improvement Yet No Sign of Full Recovery

Hamburg Economy: Slight Improvement, Cautious Outlook

The Hamburg economy showed a slight improvement in the second quarter of 2025, but remains tense overall, according to a survey conducted by the Chamber of Commerce Hamburg. The business climate indicator rose by ten points to 94.9 compared to the previous quarter, mainly due to a more positive assessment of the current situation.

The survey, which was carried out between June 19 and July 7, 2025, involved 591 Hamburg companies. The construction industry, IT and health sector, and financial services providers reported partly significantly above-average values, while the manufacturing sector, retail and wholesale, transport and hospitality, as well as the media and consulting sectors showed below-average values.

The real estate industry in Hamburg was not specifically mentioned in the survey. However, a separate report suggested that the maritime economy in Hamburg is on the rise. The Food Cluster Hamburg is also working to increase the international visibility of the city's food industry.

Caution is still evident in investment and personnel planning. Almost six out of ten responding companies expect the number of employees to remain roughly the same in the next five years, due to the impact of AI. A decrease in the number of employees is expected by 26% of companies, due to the same reason.

On the other hand, studies show that many companies globally plan to expand automation and AI to address skill shortages and enhance productivity, which could lead to growth in certain job sectors, especially in AI development, integration, and maintenance. Unfortunately, there are no specific publicly available figures quantifying how many companies in Hamburg expect their employee numbers to increase within the next five years due to the influence of artificial intelligence.

Among the challenges named by the companies, the economic policy framework conditions and weak domestic demand stand out. Export-oriented sectors are particularly cautious about the future. The current paragraph does not provide any new information about the sectors where the business climate is above or below average, or the impact of AI on employment in Hamburg companies.

Looking ahead, Hamburg Foreign Trade Day 2025 is focusing on challenges and opportunities in international trade, providing a platform for businesses to discuss and strategize in these uncertain times.