Business Surveys in Focus: Coronavirus Crisis Strikes German Economy with Full Fury

Sentiment in the German economy is currently catastrophic in view of the coronavirus crisis. This is also reflected in the crash of the ifo Business Climate Index Germany to a historic low in April. The answers to special questions on the effects of the coronavirus crisis on companies’ current business situation and their sales were also very negative. In addition to some particularly affected industries, such as restaurants and catering, accommodation, and travel, the results show that some industrial sectors, and in particular vehicle construction, are also being severely affected. As a reaction to the crisis, half of all German companies have already introduced short-time work.