Fewer German Companies Believe Coronavirus Crisis Threatens Their Survival
Fewer companies in Germany consider the consequences of the pandemic to be a threat to their survival. This is a finding from the latest ifo Business Climate survey. In June, just under one in seven companies (14.0 percent) felt threatened, down from 18.7 percent in February. “Companies that are still particularly at risk are those in the event industry, at 70.4 percent, ahead of travel agencies and tour operators with 68.0 percent,” says Klaus Wohlrabe, Head of Surveys at ifo.
In retail, only 14.4 of companies still spoke of a situation threatening their survival in June (February: 34.5 percent). “Here, the situation has eased considerably as restrictions have been relaxed since February,” Wohlrabe says.
While the situation in the hospitality industry has also improved, still more than half of businesses are in difficulties: 55.4 percent of restaurants and catering reported this to be the case (February: 72.3 percent). In the accommodation industry, 52.1 percent of businesses were concerned about their survival in June (February: 82.3 percent).
In manufacturing, only 6.6 percent consider their survival threatened. Companies in the clothing industry (32.6 percent; down from 36.8 in February) and the textile industry (21.9 percent; down from 23.3 in February) are the most affected here.
